Following a two-day decline, gold started to rise again as the Dollar Index, which measures the value of the dollar against a basket of six other major currencies (including the euro and the yen), continued its downward trend in response to the Federal Reserve's conflicting statements regarding the outlook for interest rates.

Spot gold inched up 1.5% at $29.43 while gold futures climbed at $2,015.

In line with expectations, Fed hiked interest rate by another 25 bps on Wednesday at its March meeting.

However, the central bank also signalled a possible halt in its hiking cycle in response to the U.S. banking crisis that had shaken financial markets over the previous two weeks, sparking speculation that it might only undertake one more boost.

Speaking of the industrial metals, copper traded flat on Friday, however it was poised to post significant weekly gains as the greenback pressure subsided.

Copper futures advanced by 0.1% to $4.1060 per pound.