Gold drifted higher on Friday on a weaker dollar
Gold drifted higher on Friday on a weaker dollar and dealers said the market was expected to be choppy in thin trading conditions during a U.S. holiday.
"Gold is gaining and $650 an ounce must be the target. But it wouldn't go there today because no one will dare to do that if there is no U.S. trading. It's too risky," said Matthew Turner, precious metals analyst at Virtual Metals in London.
The dollar was providing good support to the metal and prices were expected to trade in a broad range on Friday, said Turner, who saw gold closing below $700 by the end of the year.
Spot gold was quoted at $636.00/637.00 an ounce by 1031 GMT, up from $630.30/631.30 late in London on Thursday.