A gauge of the U.S. dollar was up 0.3% on the day, poised for a weekly rise of 1%, as measured by the ICE U.S. Dollar Index DXY, a gauge of the greenback against a half dozen currencies. A stronger dollar can make commodities priced in the currency comparatively more expensive to overseas buyers.

“The encouraging developments on the vaccine front in the U.S. have fueled hopes for a faster U.S. economic recovery, consequently boosting appetite for the greenback,” said Otunuga.

On Friday, the final reading of U.S. consumer sentiment in March showed an increase to 84.9 points from 83 earlier in the month, according to a survey produced by the University of Michigan.

Gold for April delivery  GC00, +0.34% GCJ21, +0.34% edged up by $6, or 0.4%, at $1,731.10 an ounce on Comex, following a 0.5% slide on Thursday. For the week, however, it was still down about 0.6%.

Chintan Karnani, chief market analyst at Insignia Consultants, attributed Friday’s price climb to “quarter-end short covering.”

He also said “short-term traders are neutral in gold,” while long-term investors are “already invested in gold.”

Investors also weighed the other U.S. economic data released Friday.

A reading on U.S. personal income and spending showed that income declined 7.1% in February, compared with an expected drop of 7%, according to consensus estimates of economists surveyed by Dow Jones. Consumer spending fell 1%, compared with an expected drop of 0.8% and the Federal Reserve’s preferred inflation gauge, personal-consumption expenditures, or PCE, rose 0.2% in February, with core inflation up 0.1%, excluding volatile energy and food, matching estimates.

Also on Friday, the 10-year Treasury note TMUBMUSD10Y, 1.654% was yielding 1.661%, up after trading near an intraweek low of around 1.59% on Thursday. Rising yields can detract from appetite for non-yielding precious metals. However, the 10-year yield trades down from 1.729% put in last Friday.

May silver SIK21, +0.11% SI00, +0.11%, meanwhile, tacked on 2.3 cents, or 0.1%, at $25.07 an ounce, trading down 4.8% for the week. Copper for May delivery HGK21, +2.20% added nearly 2% to $4.06 a pound, looking at a 1.3% fall for the week.

April platinum PLJ21, +2.03% rose 1.7% to $1,173.60 an ounce, on track for a weekly loss of over 2%, and June palladium PAM21, +2.01% climbed by 1.5% to $2,654.50 an ounce, trading up 1.1% for the week.