Ripples Advisory :Gold hits 1-month high as dollar weakens further

Spot gold was up 0.2 percent at $1,289.10 an ounce at 0322 GMT, after earlier reaching its best since Nov. 29 at $1,289.92.

Gold prices rose to their highest level in one month on Thursday in light holiday trade and as the dollar fell to a four-week low.

Spot gold was up 0.2 percent at $1,289.10 an ounce at 0322 GMT, after earlier reaching its best since Nov. 29 at $1,289.92.

U.S. gold futures were up 0.1 percent at $1,292.20 an ounce.

"It's the thin market and the dollar moving down that's pushing up gold," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. "If the dollar continues to weaken, gold will be looking for $1,300 again."

The dollar was on the defensive on Thursday, facing headwinds from a dip in U.S. 10-year bond yields, while commodity-linked currencies were bolstered by this week's rally in metal and oil prices.

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