17.11.201702:26:00UTC+00Gold Prices Climb as Dollar Slips on Trump’s Election Campaign Reports

Gold prices increased on Friday as the dollar fell following a report that investigators are looking potential Russian interference in the 2016 U.S. presidential election had subpoenaed President Donald Trump's election campaign for documents.

Spot gold rose 0.3 percent to $1,282.72 an ounce. The precious metal around 0.5 percent for the week, in what could be its second consecutive weekly gain.

U.S. gold futures for December delivery climbed 0.4 percent to $1,282.70.

"The fall in the dollar and strengthening in Asian currencies have made gold attractive for Asian investors," according to John Sharma, an economist with National Australia Bank. However, uncertainties surrounding a U.S. tax reform bill and a likely interest rate hike by the Federal Reserve next month are sending mixed signals to the market, keeping gold rangebound, he adds.

Spot gold is biased to rise above a neutral range of $1,270-$1,286 per ounce, and gain further towards $1,298, according to Reuters technicals analyst Wang Tao.

The dollar index versus a basket of six major peers fell 0.3 percent.

In other precious metal, silver climbed 0.1 percent at $17.098 per ounce, platinum added 0.4 percent to $934.50 while palladium rose 0.3 percent to $990.25.

For the week, silver has climbed 1.1 percent, in what could be its best week in five. Platinum rose 1.1 percent, on track for a third consecutive weekly gain, while palladium fell 0.3 percent.