• Gold prices on Friday held near a three-week high touched in the previous session, underpinned by uncertainty over U.S. tax reforms and on track for the first weekly rise in four weeks.
Spot gold was nearly unchanged at $1,285.28 per ounce as of 0435 GMT, and was headed for a gain of more than 1 percent for the week. On Thursday, it touched its highest since Oct. 20 at $1,288.34 an ounce.
U.S. gold futures for December delivery were down 0.1 percent at $1,285.80.
• "Further political uncertainty in the U.S. saw gold prices well supported. News that the Republican tax plan involved cuts being delayed until 2019 raised the ire of investors," ANZ said in a note.
• The slower than expected pacing of interest rate hikes by the U.S. Federal Reserve is supporting gold, said Mark To, head of research at Hong Kong's Wing Fung Financial Group.
The appointment of Jerome Powell as the new Fed chair has watered down expectations of a more hawkish stance from the central bank, he added.
"Overall though, the picture (for gold) is range-bound trading without much changes."
• Spot gold may edge up to a resistance at $1,292 per ounce, a break above which could lead to a gain to $1,299, according to Reuters technical analyst Wang Tao.
• Silver rose 0.1 percent to $17.016 per ounce. It has gained 1.1 percent for the week and is on track for its first weekly rise in four weeks.
Reference: Reuters
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