Gold prices hit one-month highs on Friday and were on track for their best year since 2010, driven higher over the past 12 months mainly by a weaker dollar and safe-haven buying prompted by global political uncertainties. Spot gold was up 0.1 percent at $1,295.45 an ounce at 0735 GMT, having hit its highest since November 29 at $1,296.26.
US gold futures were steady at $1,297.50 an ounce. Gold, which is also on track for its best month since August, has benefited from technically-driven momentum as well as the dollar downtrend, analysts said.
Spot gold has gained more than 1.7 percent so far this week, heading for its third straight weekly rise, and added more than 12 percent for the year. Many investors had predicted the dollar would get a boost from US tax cuts, tighter central bank monetary policy and strong growth rates in 2017.
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