Gold rose 1 percent on Friday and was headed for its fifth weekly gain, supported by a weaker dollar and prospects for further monetary policy easing in the wake of Britain's vote to leave the European Union.


Gold's strength benefited silver, which breached the $19 an ounce level on Friday for the first time since September 2014. It rose as much as 3.8 percent to $19.40 in earlier trade and was trading up 2.6 percent at $19.17. Silver has gained more than 8 percent this week and was on track for its best week since August 2013.

"For gold, the initial reaction was safe-haven demand due to the uncertain political situation in Europe, but then the latest move might be more of a reaction to comments from central banks that they are moving to an easing bias," Danske Bank senior analyst Jens Pedersen said.

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