Gold rose on Friday as the U.S. dollar moved lower on uncertainty about the progress of what would be the biggest overhaul of U.S. taxes since the Reagan administration in the 1980s.
The U.S. House of Representatives approved on Thursday a package of tax cuts, while a Senate panel advanced its version of the legislation that has President Donald Trump's backing.
The dollar weakened against a basket of six major currencies and was set for its biggest weekly loss in more than a month.
Meanwhile, Spot gold was up 0.8% at $1,288.08 U.S. per ounce in late morning trading on Friday. The shiny yellow metal is up more than 0.7% for the week, and poised to post a second straight weekly gain.
U.S. gold futures for December delivery rose 0.8% to $1,288.40 U.S.
Elsewhere, silver was up 0.2%at $17.11 U.S. an ounce, lagging gold this year with gains of 7% versus gold's 10%.
Platinum rose 1.4% to $944.30 U.S. and palladium gained 0.4% to $991.40 U.S..
For the week, silver is up 1%, in what would be its best week in the last five. Platinum is up 1.6% heading for a third straight weekly rise, while palladium is down 0.6%.
