Precious-Gold rose towards two-week high on Friday, set for a weekly gain, after dovish comments from FOMC minutes of September meeting released on Thursday.
The yellow metal hit a high of $1154.57 an ounce, while it currently trading at $1152.60, after opening at $1138.88.
While gold plunged after the Fed minutes, it gained 1 percent on Friday as investors felt caution from the Fed's remarks amidst the undergoing slowdown in China and its impact on inflation.
'Recent global developments would likely put further downward pressure on inflation in the near term,' the minutes said. 'Compared with their previous forecasts, more now saw the risks to inflation as tilted to the downside.'
The Fed will follow the 'wait and see' approach to get confirmation the economic outlook had not worsened.
Hence, it is likely that the Fed would not change its monetary stance before December, or it may even delay the liftoff decision until the first quarter of 2016.
Gold prices benefited from the downside pressure on the dollar, which fell to a bottom of 94.96, according to the dollar index.
Crude oil futures for November delivery rose for a second straight session to trade around $50.28 a barrel.
