Bullion has maintained its strong position since the opening of the week and during the low-volume daily trading session due to the US market being closed for the Thanksgiving holiday.
At 8.20 am, gold prices were at $4,169, up 0.24% since it opened early Friday trading in the Asian session.
The market is currently evaluating the release of several important US economic data after being delayed for a long time due to the government shutdown, so far the employment report has shown strong figures and inflation is seen as weak, and expectations will decrease in the next report.
Uncertain signals throughout the week have continued to strengthen hopes for the Federal Reserve (Fed) to cut rates by 25 basis points at the December FOMC meeting, the market places a probability of 85% as reported by CME FedWatch.
Some dovish signals by Fed officials throughout the week have put pressure on US Treasury bond yields with the 10-year report falling below 4% and weighing on the US dollar.
However, the market's focus is now on peace talks between Russia and Ukraine which could reduce demand for safe haven gold.
In addition, the hot conflict this week was over Japan-China tensions following Prime Minister Sanae Takaichi's statement supporting Taiwan independence.
Geopolitical risks in the Asian chain could push gold prices higher along with a potential Fed rate cut.
