Gold held a gain at the end of a volatile week's trading, after the Federal Reserve reduced interest rates and investors assessed the implications of Donald Trump's White House victory.

Bullion was little changed below $2,707 an ounce after rising almost 2% on Thursday as the Fed cut borrowing costs by 25 basis points, in line with expectations. Chair Jerome Powell said he didn't rule "out or in" a cut in December, noting recent indicators suggested the economy was still expanding solidly. Lower rates tend to benefit the metal, as it doesn't pay interest.

The gain on Thursday helped bullion to partially retrace Wednesday's more-than-3% decline, when Trump's win triggered a powerful rally in the dollar. Given that the president-elect is expected to push through higher tariffs, lower taxes and looser regulation, which could fan inflation, Wall Street economists now see fewer Fed cuts than they did before the election.

Read More: Powell Is Back in Trump's World and About to Feel the Heat

Gold has surged by about a third this year to notch successive records, with gains powered by heightened geopolitical and economic risks, driving purchases from both central banks and investors. The rally intensified in recent months as the Fed pivoted to rate cuts and the US election loomed.

Spot gold was flat at $2,706.97 an ounce at 8:54 a.m. in Singapore, and is about 1% lower so far this week. The Bloomberg Dollar Spot Index was steady. Silver dipped below $32 an ounce, on course for a second weekly drop. Platinum rose, while palladium was little changed.

Source: Bloomberg