Gold prices rose 1% to a seven-week high on Friday, bolstered by a soft dollar, expectations of interest rate cuts and safe-haven demand prompted by geopolitical turbulence, while silver hit a record high. Spot gold rose 1% to $4,327.31 per ounce by 1248 GMT, its highest level since October 21, and was set for a 3.1% weekly gain. U.S. gold futures gained 1.2% to $4,363.20. The dollar hovered near a two-month low, and was on track for a third straight weekly drop, making bullion more affordable for overseas buyers.