Silver futures also were driving higher, set to achieve their top advance in nearly six years. Thus far this year, the yellowish metal has surged roughly 9.5 percent after having slumped 28 percent in 2013. Last year was bullion's first year of annual losses since 2000.
"Gold got seriously hammered last year, and with the stock markets not performing as well as expected, some investors are reconsidering their allocation to gold," trader Wallace Ng with Gemsha Metals Co. in Shanghai told the news source on Friday. "Physical demand this week has been good."
At 9:18 a.m. on Friday, gold futures were up 1.12 percent, a $14.55 lift to $1,317.47 per troy ounce. Silver futures surged 3.22 percent, a 66-cent gain to $21.15 per troy ounce.
Reuters reports gold futures pushed past the threshold value of $1,300 per troy ounce on Thursday for the first time since November of last year.
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