Gold settled more than 2 percent higher on Friday and posted its biggest one-day gain in nearly five months as a retreat in the U.S. dollar and heavy short-covering lifted bullion from an earlier 4-1/2 year low.
U.S. gold futures for December delivery settled $27.20, or 2.4 percent, higher at $1,169.80 an ounce. The metal logged its best daily gain since June 16 and snapped a seven-day losing streak.
Spot gold, meanwhile, jumped 2.7 percent to $1,171 an ounce, having dropped to its lowest since April 2010 at $1,131.85 an ounce earlier on Friday.
However, the metal logged its third straight weekly loss.
The dollar slipped after a solid, but below-expectation, October U.S. jobs report as investors took profits on the greenback's months-long rally, which has seen it reach multi-year highs in anticipation of tighter U.S. monetary policy next year.
Market watchers said bullion could still extend its slide after tumbling below $1,180 an ounce, which was the lowest level reached during gold's 28 percent plunge last year.