Gold costs increased towards USD 1,591 an ounces in European countries on Friday, building on the previous session's significant profits, as a restoration in the dollar motivated some buying of the jewelry, protecting in the midst of objectives costs could rise further.
Gold posted its biggest one-day gain since January 25 on Thursday, recovering some ground lost during its longest run of losses in five months. Its reversal has put it on track to end the week 0.3% higher.
Spot gold was up 0.8% at USD 1,586.42 an ounce at 0933 GMT, having earlier touched a high of USD 1,587.12, while US gold futures for June delivery were up USD 11.40 an ounce at USD 1,586.30.
The euro recovered from an early four-month low against the dollar to move into positive territory, taking some downward pressure off gold, though confidence in the currency remained weak.
Gold's connection to increased danger aversion has been rugged since the start of the disaster. It increased to history peaks last season in aspect because traders were purchasing the steel as a secure shop of value, but as the money and treasuries discovered higher give preference to as havens, it lowered back along with the money.
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