Gold prices extend gains to three-week high

Gold prices rose on Friday to near a three-week high, on track for the second weekly profit in a row amid mounting demand on the safe haven, while the dollar weakens. 

Gold last traded at $1,247.6 an ounce, up from the opening of $1,245.6, with a session-high at $1,248.7, and a low at $1,240.9. 

Gold's rise comes after the dollar pared the gains following mixed U.S. data, which forced the dollar to hover back near a seven-week low. 

Demand returned on gold as a safe haven as markets await the House of Representatives' vote on the healthcare law supported by the Trump Administration, and in case of approving it, it will open the door for more market-oriented laws such as tax cuts and infrastructure spending. 

On the other hand, commodities rose in the markets as industrial performance improves in major economies, raising demand on commodities and underpinning the yellow metal.