SYDNEY : Gold prices advanced in Asia on geopolitical tensions continued in the region as investors flocked to the safe-haven investment of the precious yellow metal.
Spot gold was trading at $881.40 per ounce in Sydney, up $40.75 from Wednesday's close of $840.65.
Fresh troubles between Israel and Palestinian militants heightened so is political tension between India and Pakistan, lifting the prices of the precious metal for a fourth consecutive week.
The gold price surpassed $1,000 an ounce in March but fell to $712.50 an ounce in October. Gold was trading at $778.00 an ounce in New York on December 1.
On Friday, gold futures for February delivery climbed $23.20, or 2.7 per cent, to $871.20 an ounce on the New York Mercantile Exchange.
