Gold advances as the dollar retreats

The precious metal continued its rise for the fifth consecutive session as the dollar slipped against majors which boosted demand on the metal as a safe haven.

However, trading remains within narrow ranges amid the year-end festivals.

Sliver climbed to 30-week high, gold soared to 3-week high, platinum jumped to 1-1/2 month high and palladium nine-year high.

The dollar index, which tracks the dollar movements versus a basket of major currencies, dropped to a low of 79.56 from the day's opening at 79.76.

The data released recently from the US was mixed and raising concerns about the string of recovery in the new year. Eyes will be on the jobless claims report due tomorrow to now the status of the US labor market.

Gold inclined today to reach a high of $1414.66 an ounce from the day's low of $1410.20, where it is currently trading at $1413.90.

The previous session, gold added $5.80 or 0.41% to close at $1411.50.

Among other precious metals, platinum inched up to $1765.20 from the day's opening at $1763.00, palladium ticked up to $794.00 from $789.50 and silver inched up to $30.86 from $30.71, as of 08:50 GMT.