Gold prices steadied on Friday and were headed for a weekly gain on optimism about a U.S. interest rate cut, while traders awaited Federal Reserve Chairman Jerome Powell's speech due next week for cues on the size of the cut.

Spot gold was nearly unchanged at 2,457.14 per ounce, as of 0747 GMT, but has gained more than 1% so far this week. U.S. gold futures rose 0.1% to $2,494.4.

"The bullish outlook for gold remains intact given the lower trajectory expected for global interest rates. The precious metal is still poised to make a possible run at $2,500," said Tim Waterer, chief market analyst, KCM Trade.

"But in the absence of a pick-up in safe-haven demand, it may require the dollar and bond yields to take a step lower for gold to reach the $2,500 level."

U.S. economic data this week eased fears about a recession but traders are convinced the Fed will slash rates in September.

Markets see a 75% chance of a 25-basis-point cut next month and a 25% chance of a 50 bps reduction, the CME FedWatch tool showed. Traders were evenly split at the start of the week between the two cut options.

A low interest rate environment tends to boost non-yielding bullion's appeal.

Minutes of the Fed's July policy meeting are due on Wednesday and Powell will speak on the U.S. economic outlook next Friday at the Jackson Hole symposium.

Gold is expected to find support at $2,440 and face resistance at $2,485, with potential to rise toward $2,585-$2,590, said Ajay Kedia, director at Kedia Commodities, Mumbai.

Elsewhere, spot silver fell 0.8% to $28.17 per ounce, and platinum rose 0.1% to $953.85 after hitting a two-week high on Thursday. Palladium shed 0.1% to $943.01.

All metals were poised for weekly gains.

(Reporting by Daksh Grover in Bengaluru; Editing by Rashmi Aich)