By 
Gold futures were little changed on Friday as the yellow metal looked set to finish 2022 just shy of a six-month high.
Price action
Gold for February
GCG23,
-0.11%
delivery was off 0.1% at $1,824 an ounce on Comex.
March silver
SIH23,
-0.95%
shed 33 cents, or 1.4%, to $23.925 an ounce.
Palladium for March
PAH23,
-2.91%
shed 3% to $1,762 per ounce, while April platinum
PLJ23,
+0.90%
rose 0.7% to $1,073 per ounce.
March copper prices
HGH23,
-0.61%
fell 2 cents, or 0.6%, to $3.80 per pound.
Market drivers
Prices of both gold and silver are set to climb this week as a softer dollar helped bolster precious metals prices while traders continued to bet that the Federal Reserve could start to cut interest rates again some time next year, market strategists said.
A rally that began in early November remains intact, and the yellow metal is still “in a near-term uptrend,” according to commentary from Sevens Report Research. But with inflation still raging, the risk of another “hawkish shock” from the Federal Reserve remains.
Meanwhile, reports of a spike in COVID-19 cases in China has helped to weigh on copper prices, which are particularly sensitive to expectations for global growth.
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