Gold rises to 28-year high

SINGAPORE (Reuters) - Gold rose to its highest in 28 years at $772 an ounce on Friday as firm oil prices and weak U.S. dollar sparked buying from speculators and elevated its appeal as an alternative investment.

Spot gold was at $771.00/771.70 an ounce by 0026 GMT, higher than $767.90/768.70 late in New York on Thursday.

U.S. crude futures extended gains to a new all-time high of $91.10 a barrel in early electronic trade on Friday, bolstered by supply concerns during the northern Hemisphere winter and growing political tensions in Middle East.