Gold prices fell 1.2 percent during the last week as the dollar rose and signs of easing US-China trade tensions weighed on bullion prices. Global gold prices ended the week at 3,298 dollars an ounce.

The US dollar, meanwhile, rose and was on track for its first weekly gain since March, making bullion more expensive for overseas buyers. Gold, traditionally seen as a hedge against geopolitical and economic uncertainties, scaled a record high of 3,500 dollars per ounce and has gained more than 25 percent so far this year, owing to US-China trade tensions and strong central bank demand.

But, silver prices gained for the third straight week to 33.03 dollars an ounce.