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• Gold prices rose to their highest in more than a year on Friday as weak economic data reduced expectations of another interest rate increase in the United States this year, U.S. bond yields fell and the dollar plunged to its weakest since early 2015.

Demand for U.S. government debt and other safe-haven assets rose after an increase in U.S. jobless claims and worries about the impact of hurricanes Irma and Harvey on economic growth.

Spot gold was up 0.3 percent at $1,352.71 by 1026 GMT after hitting $1,357.54, its highest since August 2016.

• Technical resistance was at $1,353, gold’s peak in September last year, but upward momentum could lift it to the 2016 high of $1,375, ScotiaMocatta analysts said.

• Gold has held near its highest in more than a year as the US dollar dropped and weak economic data lowered expectations of a December interest rate rise in the United States.

Spot gold was down 0.1 per cent at $US1,347.8 by 3.43 pm Friday EDT (0543 Saturday AEST) after hitting $US1,357.54, its highest since August 2016. It was up 1.7 per cent this week, notching a third consecutive weekly gain.

US gold futures for December delivery settled at $US1,351.2.

Reference: Business News, Reuters