Gold looked ready to post a second weekly gain on Friday as concern about the ability of U.S. President Donald Trump to push legislation through Congress held the dollar near seven-week lows, thus making bullion cheaper for holders of other currencies.
Spot gold was up but 0.03% at $1,245.20 U.S> per ounce. On Thursday, it achieved a peak gold hadn't seen since Feb. 28 at $1,253.12 U.S. The yellow metal was on track for its second straight week of gains.
Gold, viewed as a safe haven asset, has benefited from falls in the dollar, U.S. bond yields and stocks as Trump's difficulty in passing health-care reform has undermined faith that he can deliver on promises of tax cuts and investment.
Trump has set up a showdown with lawmakers by demanding support for the health-care bill in a do-or-die vote on Friday. Commodity experts say failure to pass the bill could push gold through technical resistance at around $1,250 U.S.
Elsewhere among metals, spot silver gained 0.6% to $17.64 U.S. an ounce, after hitting over two-week high of $17.69 U.S. in the prior session. Platinum nudged up 0.05% to $958.99 U.S.
