(AGENCIES)

Gold edged higher on Friday amid growing concerns over inflation and US interest rate hikes.

Spot gold rose 0.3 percent to $4,505.57 per ounce by 04:22 GMT, but was down about 0.1 percent for the week so far.

US gold futures inched 0.1 percent higher to $4,535.90.

Spot silver was steady at $75.61 per ounce, while palladium gained 0.5 percent to $1,375.63, with both metals heading for a weekly gain.

Platinum lost 0.4 percent to $1,914.95 and was on course for a weekly loss.