December 29, 2007	Saturday	Zilhaj 18, 1428

LONDON, Dec 28: Gold rose to a one-month high on Friday, boosted by dollar weakness, stronger oil prices and worries over geopolitical risks.

Platinum steadied near record highs after falling earlier in the day. The metal has surged about 40 per cent so far this year.

Spot gold traded up to $836.90 an ounce, its highest since Nov 26, and was quoted at $836.40/837.10 by 11613 GMT, against $824.70/825.50 late in New York on Thursday.

Gold, traditionally seen as a safe-haven asset, jumped on Thursday.

“With the dollar under pressure and violent protests seen in Pakistan, it is likely that gold could see further safe-haven investment demand, and potentially rise to challenge this year’s high,” said James Moore, metals analyst at TheBullionDesk.com.

The metal rose to a 28-year high above $845 in November, just shy of its historic high of $850 on a tumbling dollar and firm oil prices. Gold has gained 31 per cent so far this year.

Gold’s role as a hedge against oil-led inflation was also highlighted as crude firmed almost $1 to rise above $97 a barrel, within sight of its record high.—Reuters