The Australian dollar is among the top performers of the day after yet another record high in gold prices on Friday.

Earlier in the day, gold advanced over $7.00 to reach a fresh record high at $1,282.97, continuing its trek to the coveted $1,300 level.

The gains in the commodity have continued to add to the momentum in the Australian dollar, one of the larger gold producers in the world.

Consequently, AUD/USD was among the day’s top performers on Friday, boosted by a declining USD and stronger gold prices, which sent the pair higher by as much as 100 pips on the day to 0.9569, its best levels since July 2008.

The pair has since retraced, last trading higher by 32 pips at 0.9401.

The best level in AUD/USD was on July 15, 2008, where the pair was at 0.9850.