Gold rose on Monday, extending its gains after its strongest week in a month, as the dollar slipped and European stock markets steadied.
Gold turned modestly lower on Friday as some players exited positions ahead of a long U.S. weekend, but registered its biggest weekly percentage gain in a month.
Gold settled higher as the dollar remained under pressure and as a senior Federal Reserve official said the central bank is in no hurry to start winding down its economic stimulus.
Gold settled lower on Wednesday, giving up earlier gains after U.S. Federal Reserve Chairman Ben Bernanke warned of the risks of holding interest rates too low for too long, which boosted the dollar.
Gold, down in seven of its last eight sessions extended earlier losses on Tuesday on a firm dollar, weak technical signals and speculation that the U.S. Federal Reserve might rein in its stimulus program.
Gold and silver prices gained about 2 percent after a roller-coaster session that opened with a gut-wrenching dive in silver prices to their lowest in 2-1/2 years before an abrupt midday turnaround.
Gold fell for a seventh straight session on Friday, as speculation that the Federal Reserve may soon rein in monetary easing lifted the dollar.
Gold settled lower at $1,386 per ounce after it hit a four-week low, declining for a sixth straight day for the first time in more than four years.
Gold fell for a fifth straight session, hitting a four-week low below $1,400 as the dollar strengthened to a six-week high versus the euro, clouding gold's weak technical picture.
Gold prices settled lower on Tuesday, as economic optimism and another intraday record high in U.S. equities sapped bullion's safe-haven appeal.
Gold fell 1 percent on Monday as stronger U.S. retail sales data inspired economic hopes and reduced the safe-haven bid for gold.
Gold fell nearly 1.5 percent as a sharp rise in the dollar against the Japanese yen triggered technical selling, sending the metal to a two-week low.
Gold fell 1 percent in choppy trade as the dollar rose to a four-year high against the yen and rallied against the euro, decreasing bullion's appeal as a hedge against U.S. currency depreciation.
Gold settled more than 1 percent higher on Wednesday, rising for the first time in three sessions as a drop in the dollar and strong physical bullion buying helped offset a continued decline in gold-backed exchange-traded fund holdings.
Gold ended lower as its appeal as an alternative investment faded after equity markets rose on prospects of sustained central bank stimulus, while holdings in exchange-traded funds slipped to their lowest in more than three years.
Gold futures settled higher, with some buyers tempted back to the market after a second week of gains suggested last month's price slide to a more than two-year low has run its course for now.
Gold ended flat, erasing earlier gains after faster-than-expected U.S. job growth reduced any need for the Federal Reserve to boost monetary stimulus.
Gold rose as the European Central Bank cut its interest rate for the first time in 10 months, affirming the metal's inflation-hedge appeal a day after the Federal Reserve said it would keep up its bond purchases to spur growth.
Gold settled almost 2 percent lower on Wednesday, the biggest daily drop since its historic decline in mid-April, as investors sold off a range of commodities.
Gold settled higher, but many investors remained on the sidelines ahead of central banks meetings this week in Europe and the United States and support from the physical market softened while major buyer China was on holiday.