Gold prices rose slightly toward $1,050 per ounce on Friday as the dollar remained pressured, buffing up bullion's allure as an alternative to the falling US currency. Gold is now down about 2 percent from record highs above $1,070 hit on October 14, but looks set to end October with a rise of about 4 percent on the month, and is down 0.6 percent on the week.
Spot gold was up 0.3 percent at $1,047.70 per ounce by 0614 GMT, compared to New York's notional close of $1,044.95. It hit a three-week low of $1,025.75 on Thursday. US gold futures for December delivery edged up to $1,048.30 per ounce, compared to $1,047.10 an ounce on the COMEX division of NYMEX.
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