Gold futures on the COMEX Division of the New York Mercantile Exchange further hiked on Friday, buoyed up by increasing safe-haven demands coming out of worries over the escalating debt crisis in Greece.
The most active gold contract for August delivery hiked 9.2 U.S. dollars, or 0.6 percent, to 1,539.1 dollars per ounce.
While street protests turned violent in Greece over the government's spend-cutting plan, Prime Minister George Papandreou fought for his government's survival and appointed Evangelos Venizelos as the nation's new finance minister. Meanwhile, German Chancellor Angela Merkel signaled a willingness to compromise on German demands that bondholders shoulder a "substantial" share of a Greek rescue.
Market analysts said that the gold market remains very jittery and there is still far too much uncertainty over Greece and the bullion could well rally to May highs given a renewed flight to safety.
Meanwhile, France and Germany pledged to preserve the stability of the euro amid the Greek sovereign-debt crisis, which pressured the U.S. dollar and underpinned gold price. The dollar index, which compares the U.S. unit to a basket of six major currencies, fell to 75.012 from Thursday's 75.476.
Silver for July delivery rose 18.9 U.S. cents, or 0.53 percent, to 35.748 dollars per ounce. Platinum for July delivery further shed 8.6 dollars, or 0.5 percent, to 1,752.1 dollars per ounce.
