Gold fell on Friday, but rebounded sharply off a 4-1/2 month low after U.S. data showed job market growth has slowed, suggesting the Federal Reserve may retain its monetary stimulus in the near term.
Gold fell on signs that the Federal Reserve is increasingly concerned about the risks of the Fed's asset purchases on financial markets, which undercut bullion's appeal. .
Gold rose nearly 1 percent on Wednesday, as economic optimism fueled sharp gains on Wall Street after U.S. lawmakers clinched a last-minute deal to avoid tax hikes that threatened to send the economy back to a recession.
Gold stretched higher on Monday on hopes that an agreement to head off a fiscal crisis could soon be at hand.
Gold fell, wiping out what would have been its first weekly gain since November, as traders priced the market lower while awaiting the outcome of last-ditch U.S. budget talks before a year-end deadline.
Gold rose, but stayed in sight of last week's four-month lows as investors focused on talks between the White House and Congress to prevent the U.S. economy from plunging into recession next year.
Gold edged higher on Wednesday as thin post-Christmas trading and anticipation that a U.S. budget deal might be done before the end of the year supported bullion prices.
Gold was little changed in thin pre-holiday trade on Monday, as prices stayed near a four-month low as the U.S. fiscal stalemate drove investors to the sidelines.
Gold bounced back from near a four-month low as investors were discouraged by a weaker euro and stalled U.S. budget talks.
Gold plunged below $1,650 an ounce, down more than 1 percent, and to its lowest since August as heavy liquidation by hedge funds and signs of an improving U.S. economy triggered selling.
Gold stalled on Wednesday, within sight of an almost four-month low as signs of progress in the U.S. fiscal talks that dented bullion's safe-haven appeal.
Gold fell almost 2 percent on Tuesday to its lowest price since August, hit by heavy technical selling and growing hopes that U.S. legislators are closer to reaching a deal that would avert a fiscal crisis next month.
Bullion ended the session little changed as worries about the U.S. fiscal cliff kept investors on the sidelines.
Gold futures ended nearly flat at $1,697 an ounce on Friday amid uncertainty over stalled U.S. budget negotiations.
Gold fell 1 percent on Thursday as fears the Fed might withdraw its economic stimulus if the job market improved dramatically prompted funds to reduce their bullish bets.
Gold rose on Wednesday as its inflation-hedge appeal received a boost after the U.S. Federal Reserve took an unprecedented step to commit to near-zero interest rates as long as unemployment remains high.
Gold was little changed on Tuesday, but sentiment ahead of a U.S. Fed meeting boded for more gains.
Gold rose ahead of a key Federal Reserve policy meeting, but gains were capped by lingering fears about the "fiscal cliff"
Gold edged up on Friday, rebounding from early lows, as upbeat U.S. nonfarm payrolls data did not alter a view that the Federal Reserve will continue to use bullion-friendly economic stimulus to boost growth.
Gold prices steadied near $1,690 an ounce, as buyers remained on the sidelines after the ECB left rates unchanged as expected, and on uncertainty over negotiations to avert a U.S. fiscal crisis.