Gold climbed to its highest in almost three months in thin trade on Friday, while holdings in the SPDR Gold Trust struck a record on safe-haven buying prompted by volatile currencies and Greek debt woes. Spot gold hit an intraday high of $1,154.05 an ounce and was at $1,153.00 by 0610 GMT, up $2.85 from New York's notional close on Thursday, when it had also risen to its strongest since mid-January.
Gold, which was about 6 percent below a lifetime high above $1,200 hit in early December of 2009, hovered well above the closely watched 14- and 50-day moving averages. COMEX June gold contract added $1.3 to $1,154.2 an ounce, having earlier risen to its highest in almost three months at $1,155 an ounce. The physical sector was deserted after purchases from jewellers in Asia picked up at this week's lows around $1,122 an ounce, suggesting that bullion may struggle to hold gains. Premiums for gold bars hardly moved in Singapore and Hong Kong.