Gold up, set to halt three-year losing streak

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Gold was set to rise more than 9 % in 2016, its first annual gain in four years, edging higher in the final trading session of the year on Friday on the back of a weaker dollar.

Spot gold was up 0.1% at $1,159.36 an ounce by 0325 GMT, having earlier hit a more than two-week high of $1,163.14 an ounce. The metal rose over one percent in the previous session, its biggest daily percentage gain since late September. U.S. gold futures rose 0.2 % to $1,160.3 per ounce. 

 Gold has added more than 9 % so far this year despite a steep fall in November, following three successive years of losses."Gold made robust gains as demand surged during the periods of economic and political uncertainty until the third quarter," said Mihir Kapadia, CEO of London-based Sun Global Investments Ltd. 

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