Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday to a more than one-month high, as the dollar softened on uncertainty about the progress of a U.S. tax cut.
The most active gold contract for December delivery rose 18.3 U.S. dollar, or 1.43 percent, to settle at 1,296.50 dollars per ounce.
Uncertainty over the outlook for U.S. tax reform and its potential impact on supercharging the economy also supported the metal's move higher, hitting investor risk appetite and underpinning gold's value as a safe haven asset.
The U.S. dollar index, which measures the buck against six rivals, fell 0.28 percent to 93.671 in Friday trading. It's ready for a weekly loss of 0.8 percent.
A weaker dollar boosts gold as the falling currency makes the dollar-priced bullion more attractive to investors using another currency.
As for other precious metals, silver for December delivery added 30.1 cents, or 1.76 percent, to close at 17.373 dollars per ounce. Platinum for next January went up 18.4 dollars, or 1.97 percent, to settle at 954.6 dollars per ounce.
The most active gold contract for December delivery rose 18.3 U.S. dollar, or 1.43 percent, to settle at 1,296.50 dollars per ounce.
Uncertainty over the outlook for U.S. tax reform and its potential impact on supercharging the economy also supported the metal's move higher, hitting investor risk appetite and underpinning gold's value as a safe haven asset.
The U.S. dollar index, which measures the buck against six rivals, fell 0.28 percent to 93.671 in Friday trading. It's ready for a weekly loss of 0.8 percent.
A weaker dollar boosts gold as the falling currency makes the dollar-priced bullion more attractive to investors using another currency.
As for other precious metals, silver for December delivery added 30.1 cents, or 1.76 percent, to close at 17.373 dollars per ounce. Platinum for next January went up 18.4 dollars, or 1.97 percent, to settle at 954.6 dollars per ounce.
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