Mubasher: Gold prices were down during Friday's trades. Despite that, the precious metal is looking to record weekly gains by around 0.3%.

Spot gold prices declined 0.21% to $1,238.85 per ounce by 0831 GMT, while the metal's future contracts lost 0.2% to $1,238.5 per ounce.

The US dollar index, which measure the US currency against a basket of major currencies, grew 0.1% to 100.55 points.

In the meantime, the USD edged up against the euro and Japanese yen by 0.03% and 0.06% to $1.06 and 113.19 yen, respectively.