Global gold rose to a one-week high on Thursday as Chinese retail investor demand rose and amid uncertainty over the direction of monetary policy in the United States before the announcement of a new chair of the Federal Reserve.
Spot gold was up 0.5 per cent to $1,279.31 per ounce at 0344 GMT, after earlier rising to $1,281.43, the highest since Oct. 26, reports Reuters.
US gold futures edged up 0.3 per cent to $1,280.70 per ounce.
The dollar pulled back from a 3-1/2-month high versus the yen, sagging ahead of a US tax bill that will be unveiled after a one-day delay.
Spot gold may break a resistance at $1,283 per ounce, and rise into a range of $1,289 to $1,295, said Reuters technical analyst Wang Tao.
Meanwhile, silver prices rose 0.2 per cent to $17.15 per ounce.
Platinum fell 0.2 per cent to $929.50 per ounce, while palladium was little changed at $1,001.30.
