NEW YORK (Commodity Online): Gold prices indicated firmness on the back of the weak dollar giving a boost to the prices of gold stocks as well as the demand for the yellow metal.

Gold prices surged maximum during the week as the dollar tanked for the first time in seven days. The dollar fell as much as 0.7 percent against a basket of six major currencies on speculation that December’s rally will be hard to sustain.

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Before today, the greenback rose 4.5 percent this month against the currency basket as gold fell 8.1 percent.

Gold futures for February delivery rose USD 5.90, or 0.5 percent, to USD 1,092.60 an ounce on the New York Mercantile Exchange’s Comex unit, the first gain this week. A close at that price would be the biggest increase for a most- active contract since Dec. 16.

Before today, gold jumped 23 percent this year as U.S. growth slumped during the longest recession since World War II.

Meanwhile, the gold stocks on the New York Stock Exchange (NYSE) traded with extended gains today. Anglogold Ashanti Ltd (NYSE:AU) gained 2.85% at USD 41.45, while Compania De Minas Buenaventura (NYSE:BVN) gained the most, close to 8% at USD 34.37 in the afternoon trades today. Yamana Gold Inc was trading at USD 11.84 up over 3% from its Tuesday’s close.

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