Gold rises on weakening dollar; heading for best year since 2010

Among the precious metals, palladium also has been the best performer this year, rising more than 57% on strong demand

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 per cent at $1,295.45 an ounce at 0735 GMT, having hit its highest since Nov. 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