Gold inches up, heads for weekly profit

Gold prices rose on Friday before the weekend after sliding yesterday, with the precious metal heading for a weekly profit even as the dollar adds to gains. 

Gold last traded at $1,265.7 an ounce, up from the opening of $1,264.6, with a session-high at $1,267.5, and a low at $1,260.4. 

Gold's rise comes even as the dollar surged to an eight-month high versus main currencies, which would've hurt gold but it held its ground. 

Gold prices draw their support from short-covering but dollar's strength prevents a full recovery, which only let place a small rise. 

The dollar index, tracking the greenback's performance against a basket of six major peers, rose to 98.72 from the opening of 98.30, with an intraday low at 98.30, and an eight-month high at 98.75, heading for the fourth weekly profit in a row.