Gold prices rose to their highest level in 15 months on Friday, boosted by a weaker U.S. dollar and heightened demand for safe-haven assets.

Gold for June delivery settled up 1.9% at $1,290.50 a troy ounce on the Comex division of the New York Mercantile Exchange, closing out its fifth straight day of gains. Gold traded as high as $1,299.00 during the day’s session, its highest level since January 2015.

Friday’s...