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• Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as investors squared positions before the weekend after the Federal Open Market Committee (FOMC) meeting.

• The most active gold contract for April delivery rose 3.1 U.S. dollars, or 0.25 percent, to settle at 1,230.20 dollars per ounce.

• Gold rose on Friday and was on course for its first weekly gain in three as the U.S. Federal Reserve's cautious message on interest rates left the dollar around five-week lows, making bullion cheaper those holding other currencies.

• Investors are in the process of continuing a reaction to the U.S. Federal Reserve's signal that it could have a slower pace of interest rate hikes. Investors believe the Fed may raise rates from 1.00 to 1.25 during the June FOMC meeting.

• According to the CME Group's Fedwatch tool, the current implied probability of a hike from 1.00 to 1.25 is at 4 percent at the May meeting and 51 percent for the June meeting, along with a 2 percent chance of an increase to a 1.5 rate.

• Holdings of SPDR Gold Trust <GLD>, the world's largest gold-backed exchange-traded fund, fell 2.96 tonnes to 834.1 tonnes on Thursday from 839.43 tonnes on Wednesday.

• Silver for May delivery rose 8.3 cents, or 0.48 percent, to close at 17.413 dollars per ounce.