Gold traded higher on a weaker U.S. dollar as investors remained cautious ahead of the Greek referendum on Sunday. Greek Prime Minister Alexis Tsipras said on Friday that that Greece's debt was not sustainable. He also noted that the vote "No" would not mean that Greece have to leave the Eurozone.

Tsipras also said that he asked Greece's lenders to accept a 30% haircut on the country's debt. He pointed out that he also wants a 20-year "grace period" on repaying the rest debt.

Greek Finance Minister Yanis Varoufakis said on Friday that a deal between Greece and its creditors will be reached regardless of the outcome of Sunday's referendum. He noted that a deal was "more or less done".

Head of the Eurogroup Jeroen Dijsselbloem Jeroen Dijsselbloem said on Friday that Greece faced a difficult future regardless of the outcome of the referendum on Sunday.

He also said that a deal between Athens and its lenders is near is "completely false". He added that no new proposals have been sent to Greece.

August futures for gold on the COMEX today rose to 1166.90 dollars per ounce.