gold price rise

Bullion is on track for a second consecutive weekly increase, with a 2.5 per cent gain so far

Spot gold rose 0.3 per cent to $2,898.27 an ounce as of 0501 GMT, while US gold futures firmed 0.1 to $2,902.50

The dollar index wallowed near a four-month trough as the US exempted automakers from the 25 per cent tariffs on Canada and Mexico for a month

The US central bank held interest rates steady in its last meeting

Bullion had scaled an all-time high of $2,954.69 on Thursday

The market is slightly overbought, which can create some technical profit booking after nearing the $3,000 level