LONDON: Gold prices on Friday held near a threeweek high touched in the previous session, underpinned by uncertainty over US 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 per cent for the weel(. On Thursday, it touched its highest since Oct 20 at $1,288.34 an ounce. US gold futures for December delivery were down 0.1pc at $1,285.80.

`Further political uncertainty in the US 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.

Silver rose 0.1pc to $17.016 per ounce. It has gained 1.1pc for the week and is on track for its first weekly rise in four weeks. Platinum was down 0.2pc at $935.40 an ounce and was up 1.8pc for the week.-Reuters