Gold traded higher as stock markets in Europe, Asia and the U.S. traded higher. The indexes were supported by hopes for a deal between Greece and its lenders and by rebound in the Chinese stock market.

The Chinese stock index Shanghai Composite rose 4.5% on Friday as Chinese regulators implemented measures to control the selloff on exchanges. The China Securities Regulatory Commission said on late Wednesday that it had ordered investors holding more than 5% of a company's shares not to sell any of their holdings for the next six months.

Athens sent new reform proposals to its lenders two hours before the deadline on Thursday. New proposals includes VAT reforms, other tax policies, pension and public sector reforms, higher corporate tax and the privatization of the port and the railway companies.

Greece's creditors will make a decision on Greek reform proposals tomorrow.

Investors are awaiting a speech by the Fed Chair Janet Yellen which is scheduled to be at 16:30 GMT.

August futures for gold on the COMEX today rose to 1163.00 dollars per ounce.