Gold rose nearly $7 the back of firmer oil prices on Friday, hovering near its highest level in more than two weeks, with demand from jewellers ahead of the festive season in Asia also offering additional support. India, the world's largest consumer, is stepping up purchases ahead of the festive season, which will peak in October with Diwali, the Hindu festival of lights.
Buying before the Muslim fasting month of Ramadan in September also spurred trading. Gold firmed to $838.15/839.15 an ounce from $831.45/832.65 an ounce late in New York. Gold jumped to $844.00 an ounce on Thursday, its highest level since August 11, before paring some due to a firming US dollar.
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