Gold climbed 1% to $4,385.76 an ounce on Friday, extending its recovery as a third day of oil-price declines eased inflation concerns and supported a weaker dollar. The metal was on track for a roughly 0.9% weekly gain after rebounding more than 2% on Thursday from a near six-week low earlier in the week. Saudi Arabia's expected restoration of a key pipeline and Chinese diplomatic efforts regarding Houthi control of the Bab el-Mandeb Strait helped drive crude lower. The Bank of Japan raised rates on Friday after policy moves by the Federal Reserve and European Central Bank, keeping the outlook for borrowing costs restrictive. Still, ANZ said gold-backed ETFs attracted inflows for eight consecutive trading sessions, with options activity in major funds also remaining strong.