Spot gold experienced a rise of 0.8%, reaching $2,320.95 per ounce by 1503 GMT. Additionally, U.S. gold futures for June delivery saw an uptick of 0.9%, reaching $2,329.70 per ounce.
Gold faced downward pressure as the main indexes of Wall Street began on a higher note, thereby reducing the demand for the safe-haven and non-interest-bearing asset.
At 10:56 a.m. ET (1456 GMT), spot gold soared by 2.2 per cent to $2,424.32 per ounce, achieving a record high of $2,419.79. The week saw prices surge by 4 per cent.