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Spot gold was up 0.8 per cent at $1,134.26 an ounce by 2:55 p.m. EDT (1855 GMT), but still down more than 2 per cent for the week.
US gold for December delivery rose 1 per cent to settle at $1,134 an ounce.
Gold prices crossed a key technical retracement level between July’s 5-1/2-year lows and last week’s 6-1/2-week highs, providing a chart-based boost, Tesfaye said.
Nonetheless, bullion still plunged 2.3 per cent on the week, as a slew of US economic data suggested stronger growth.
US consumer spending picked up in July, data showed on Friday. This followed Thursday’s upward revision in US economic growth in the second quarter to 3.7 per cent from the initial estimate of 2.3 per cent.
Palladium rose sharply for the second straight session on physical buying and technical dealings after hitting five-year lows on Wednesday, Tesfaye said. It was up 4.6 per cent to $585 an ounce on Friday, for its largest two-day gain since 2008.
Spot silver was up 0.6 per cent at $14.56 an ounce, having fallen to a six-year trough of $13.93 on Wednesday. Silver has dropped nearly 5 per cent this week, its steepest such decline since February. Platinum was up 1.5 per cent at $1016.50 an ounce.
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