Gold rallies in Asia

Spot gold staged a strong rally on Friday, snapping four sessions of losses with possibly its biggest one-day gain this month, as a smooth Spanish bond auction and upbeat US jobs data supported sentiment. Spot gold rallied as much as 1.6 percent to $1,595.3 and traded at $1,593.39 by 0726 GMT, off a 2-1/2-month low of $1,560.36 hit in the previous session.
US gold rose 1.2 percent to $1,596.3. Spot silver gained more than 2 percent to $29.78 an ounce, before easing to $29.63. The precious and industrial metal was on course for a 8.3-percent weekly decline, its sharpest since late September.