Gold backed off the two-week high struck on Thursday as the U.S. dollar stayed firm, but the yellow metal was still on track Friday for its biggest weekly gain in nearly two months.
Late Friday morning saw spot gold down 0.1% to $1,339.47 U.S. an ounce, but was set for a weekly gain of nearly 2%, its highest since the end of July.
Part of Friday's downward progress could be tied to the U.S. dollar, much stronger in recent weeks. A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.
Analysts suggest spot gold may stabilize around a support at $1,335 U.S. per ounce, and then retest a resistance at $1,343.
Silver fell 0.3% to $19.79 U.S. Friday, but still rose 5% on the week its highest since the week ending July 1, and best this week among the precious metals.
Platinum edged up 0.6% at $1,058.50 U.S. It rose as much as 1.7% in the previous session. Palladium was down 0.2% at $691.50 U.S., after rising 1.5% on Thursday.
