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• Gold prices dipped on Friday as some investors locked in profits at the end of the week, and risk appetite strengthened, but expectations hovered that gold prices could move higher next week.

Spot gold was down 0.3 percent at $1,287.70 an ounce by 1:46 p.m. EST (1846 GMT), on track for a 0.5 percent weekly decline.

U.S. gold futures for December delivery settled down $4.90, or 0.4 percent, at $1,287.30 per ounce.

• "There's some liquidation of gold taking place, but light volume," said Bill O’Neill, partner at Logic Advisors in Upper Saddle River, New Jersey.

“Next week will be important, because we are close to that $1,300 level and the market has the potential to break through and establish a slightly higher range,” O'Neill added.

• U.S. Federal Reserve's minutes released Wednesday, regarded as "dovish," supported gold and slightly lowered market expectations of a March rate hike, said Georgette Boele, commodity strategist at ABN AMRO in Amsterdam.

A December rate hike has already been priced into the market, traders said.

• The Fed's cautious view of inflation could lead to a longer period of low interest rates, providing a solid platform for gold investment, said Cameron Alexander, analyst with Thomson Reuters-owned metals consultancy GFMS.

• Among other precious metals, silver dipped 0.3 percent at $16.99 an ounce. Silver slipped 1.8 percent for the week and is poised for its first weekly decline in three weeks.

Reference: Reuters