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Gold edged higher amid choppy trading as bargain-hunters took advantage of yesterday's sharp decline. A stronger U.S. dollar minimized the metal's gains as hedge appeal remained limited.
February-gold added $1,111.50 per ounce, up $4.10 on the session. The metal reached as high as $1,118.10 earlier in the session after falling more than $28 on Thursday.
Gold finished a choppy week down $4.10. The metal has lost more than $100 from the record high it reached earlier this month.
The dollar rose to a new three-month high of 1.4260 against the euro before easing back. The dollar also saw some strength amid choppy trading with the pound.
The Federal Reserve helped bolster the dollar earlier this week when it indicated it will unwind emergency support measures as they expire and as the economy recovers from the recession.
With no major economic news on the agenda, traders looked ahead to next week's holiday-abbreviated schedule. Gross domestic product data for the third quarter is due on Tuesday.
Personal income, consumer sentiment and new home sales data is expected on Wednesday.
On Thursday, durable goods orders and initial jobless claims reports are on the docket.
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