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Gold prices on Friday hovered near a one-week high scaled in the previous session, and were set for their first weekly gain since mid-April, as the U.S. dollar receded from two-decade highs, reviving demand for safe-haven bullion.

FUNDAMENTALS

* Spot gold was flat at $1,841.37 per ounce, as of 0104 GMT, after rising as much as 1.9% in the previous session. U.S. gold futures edged 0.1% lower to $1,839.30.

* Gold prices have climbed about 1.7% so far this week.

* The U.S. dollar slipped across the board, extending its pullback from a two-decade high, as most major currencies battered by the greenback's advance this year drew buyers. [USD/]

* A weaker dollar makes bullion cheaper for overseas buyers.

* U.S. 10-year Treasury yields also fell, lifting demand for zero-yield gold, as continued softness in U.S. economic data fuelled growth concerns amid aggressive monetary tightening by the Federal Reserve. [US/] [MKTS/GLOB]

* As bullion yields no interest it can become less attractive to investors when short-term U.S. interest rates are hiked. It is, however, seen as a safe store of value during times of economic crises.

* The U.S. Fed will lift interest rates higher by the end of this year than anticipated just a month ago, keeping alive already-significant risks of a recession, a Reuters poll of economists found.

* Reflecting an uptick in demand, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.66% to 1,056.18 tonnes on Thursday, following a recent streak of losses. [GOL/ETF]

* Spot silver fell 0.2% to $21.87 per ounce, but has gained nearly 4% so far this week.

* Platinum dropped 0.5% to $957.69, while palladium edged up 0.1% to $2,007.98. Both were set for weekly gains of about 2.1% and 3.6%, respectively.