<p>Gold recouped some losses on Friday after a 1 per cent drop in the last session, helped by a weaker dollar, and as concerns over the fate of China's Evergrande returned to the fore, burnishing bullion's safe-haven status.</p>.<p>Spot gold rose 0.7 per cent to $1,754.73 per ounce by 2.54pm. US gold futures rose 0.3 per cent to $1,755.10.</p>.<p>Helping bullion by making it cheaper for those holding other currencies, the dollar index lingered near a one-week low hit in the previous session.</p>.<p><strong><a href="https://www.deccanherald.com/national/govt-seals-mega-deal-with-airbus-for-purchase-of-56-c-295-military-transport-aircraft-1033708.html" target="_blank">Read | Govt seals mega deal with Airbus for purchase of 56 C-295 military transport aircraft</a></strong></p>.<p>This was in contrast to Thursday when gold fell to a more than one-month low as heightened Fed rate hike bets largely overshadowed a retreat in the dollar -- an unusual occurrence.</p>.<p>Gold is taking support from a weaker dollar, with the warning from China to local authorities over a possible collapse of Evergrande serving as "another reminder that the risk still prevails," said Quantitative Commodity Research analyst Peter Fertig.</p>.<p>But prospects of rate hikes from several central banks are "a negative mix for gold," Fertig added.</p>.<p>Higher interest rates increase the opportunity cost of holding bullion, which pays no interest.</p>.<p>Gold also competes with the dollar as a safe store of value during financial or political uncertainties.</p>.<p><strong><a href="https://www.deccanherald.com/business/sensex-hits-60000-in-just-eight-months-after-scaling-50000-in-january-1033709.html" target="_blank">Read | Sensex hits 60,000 in just eight months after scaling 50,000 in January</a></strong></p>.<p>But while the uncertainty may accelerate a flight to safety, investors may rush towards the dollar at gold's expense, said FXTM analyst Lukman Otunuga said.</p>.<p>"Despite the caution and tension this week, gold has gained a paltry 0.1 per cent. This performance suggests gold may be concerned with other themes ranging from the Fed's tapering and rate hike expectations."</p>.<p>Silver climbed 0.8 per cent to $22.66 per ounce and was up 1.2 per cent for the week so far.</p>.<p>Palladium rose 1 per cent to $2,003.27 but was on track for a third straight weekly decline.</p>.<p>Platinum slipped 0.6 per cent, to $983.29. The metal, however, was set to break two consecutive weeks of decline.</p>.<p><strong>Check out the latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
<p>Gold recouped some losses on Friday after a 1 per cent drop in the last session, helped by a weaker dollar, and as concerns over the fate of China's Evergrande returned to the fore, burnishing bullion's safe-haven status.</p>.<p>Spot gold rose 0.7 per cent to $1,754.73 per ounce by 2.54pm. US gold futures rose 0.3 per cent to $1,755.10.</p>.<p>Helping bullion by making it cheaper for those holding other currencies, the dollar index lingered near a one-week low hit in the previous session.</p>.<p><strong><a href="https://www.deccanherald.com/national/govt-seals-mega-deal-with-airbus-for-purchase-of-56-c-295-military-transport-aircraft-1033708.html" target="_blank">Read | Govt seals mega deal with Airbus for purchase of 56 C-295 military transport aircraft</a></strong></p>.<p>This was in contrast to Thursday when gold fell to a more than one-month low as heightened Fed rate hike bets largely overshadowed a retreat in the dollar -- an unusual occurrence.</p>.<p>Gold is taking support from a weaker dollar, with the warning from China to local authorities over a possible collapse of Evergrande serving as "another reminder that the risk still prevails," said Quantitative Commodity Research analyst Peter Fertig.</p>.<p>But prospects of rate hikes from several central banks are "a negative mix for gold," Fertig added.</p>.<p>Higher interest rates increase the opportunity cost of holding bullion, which pays no interest.</p>.<p>Gold also competes with the dollar as a safe store of value during financial or political uncertainties.</p>.<p><strong><a href="https://www.deccanherald.com/business/sensex-hits-60000-in-just-eight-months-after-scaling-50000-in-january-1033709.html" target="_blank">Read | Sensex hits 60,000 in just eight months after scaling 50,000 in January</a></strong></p>.<p>But while the uncertainty may accelerate a flight to safety, investors may rush towards the dollar at gold's expense, said FXTM analyst Lukman Otunuga said.</p>.<p>"Despite the caution and tension this week, gold has gained a paltry 0.1 per cent. This performance suggests gold may be concerned with other themes ranging from the Fed's tapering and rate hike expectations."</p>.<p>Silver climbed 0.8 per cent to $22.66 per ounce and was up 1.2 per cent for the week so far.</p>.<p>Palladium rose 1 per cent to $2,003.27 but was on track for a third straight weekly decline.</p>.<p>Platinum slipped 0.6 per cent, to $983.29. The metal, however, was set to break two consecutive weeks of decline.</p>.<p><strong>Check out the latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>