Gold held near $ 1010 an ounce in Europe on Friday as the dollar's recovery from lows of a year against the euro weakens the upward trend in precious metal.
However, prices are supported by strong buying in times of low, as investors are betting that the metal will exceed its historical mark of $ 1,030.80 signed in March last year.
Spot gold rose to $ 1012.90 an ounce at 1115 GMT from $ 1011.45 the day before in New York. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange advanced $ 1.40 to $ 1014.90 an ounce.
Saxo Bank manager Ole Hansen said the impetus that gold has gained on its way to a new record, you need a stronger dollar to spark a downtrend.
"There has been strong buying activity of speculative long positions hit record highs, investments in exchange-traded funds are at record levels, so we need to see a break above the highs of last year," he said. If this is successful, he added, there is the possibility that gold set a new trading range between 1,000 and 1,300 dollars.
Among other precious metals, silver, platinum and palladium also slipped after hitting multi-month highs on Thursday, following gold's gains.
Palladium was at $ 302.50 from $ 301.50 Thursday, while platinum was at $ 1336.50 as an ounce from $ 1335.50. Silver was trading at $ 17.12 an ounce from $ 17.18.
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