Gold Surged to 2 Weeks High

Gold bounced around on Friday after failing to break above this week's two-week high, capped by selling pressure ahead of crucial US jobs data and next week's US Federal Reserve meeting.

Spot gold hit a high of $647 an ounce before dipping to $646.20/647.70 an ounce, down slightly from $646.50/648.00 late in New York on Thursday.

Gold was unable to rise beyond Wednesday's two-week high of $655.45 as selling pressure emerged at higher levels despite the war in the Middle East. Immediate resistance was pegged around $652.50.