Gold edges higher ahead of Powell's speech, but set for weekly fall

Gold prices rose slightly on Friday but were poised for a weekly loss as investors awaited Fed Chair Jerome Powell's speech for insights on a potential September rate cut. Spot gold increased by 0.2% to $2,488.59 per ounce, while U.S. gold futures gained 0.29% to $2,524.00. Other precious metals showed mixed performance.