Gold extends gains, set to close 2014 on a firm note

SINGAPORE (Reuters) Dec 31, 2014 – Gold added to sharp overnight gains on Wednesday as global equities took a hit from the risk-averse sentiment in the market, triggering safe-haven bids for the metal.
Bullion was on track to end the year on a steady note with prices holding flat after a turbulent 2013, when prices slumped for the first time in 13 years.
Spot gold ticked up 0.1 percent to $1,201.20 an ounce by 0041 GMT. In the previous session, the metal climbed to its highest in nearly two weeks of $1,209.90, before paring some gains to close up 1.5 percent.
The dollar also slipped against a basket of major currencies on profit taking after a recent rally to a near nine-year peak.
Gold has had a relatively less-volatile year in 2014, compared with a 28 percent slide last year and a $500 range.
For this year, gold has lost 0.3 percent and traded in a $260 range, though it did fall to a 4-1/2-year low in just last month