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Gulf Today Report 

Gold prices maintained more than one-month high on Friday following a decline in US Treasury yields and the dollar.

Spot gold was up 0.1% at $1,764.13 per ounce by 04:35 GMT while US gold futures eased 0.1% to $1,764.40.

Ilya Spivak, DailyFX currency strategist said, "We've seen that the 10-year yield has pulled back and has broken through that very important 1.6% level and I think that probably means that there is more weakness in yields, at least near term, which is very supportive for gold."

Benchmark US Treasury yields dropped to a one-month low, reducing the opportunity cost of holding non-interest bearing gold.

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On the other hand, the dollar is moving towards its worst back-to-back weekly fall this year.

Federal Reserve Chair Jerome Powell and other Fed officials confirmed that a brief period of higher inflation will not affect monetary policy.

"In the long run, some amount of inflation, due to the massive influx stimulus money, will keep gold supported," said Stephen Innes, chief global market strategist at financial services firm Axi.

Gold is seen as a shield against inflation thereby benefitting from widespread stimulus measures.