Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat US economic data encouraged investors, while the persistent gloom hanging over the eurozone weighed on sentiment. Spot gold edged up 0.3 percent to $1,610.80 an ounce by 0710 GMT. It was on course for a weekly rise of 0.7 percent, snapping two weeks of consecutive losses. US gold inched up 0.1 percent to $1,612.80, headed for a weekly gain of nearly 1 percent.
Technical signals were mixed for spot gold as it is trapped in the range of $1,597 and $1,618, and a move outside the range will indicate its next direction, said Reuters market analyst Wang Tao. Spot silver rose 0.7 percent to $29.29 an ounce, but was on course for a 1.3-percent weekly decline and a monthly loss of more than 10 percent.
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