Gold up in Asia

Spot gold crawled higher on Friday, headed for its fourth consecutive week of gains, as investors kept close watch on the situation in Libya and the energy market. Spot gold inched up 0.4 percent to $1,406.80 an ounce by 0651 GMT, headed for a 1.3 percent gain from a week earlier. The most active US gold futures contract edged down 0.6 percent to $1,407.60.
Technical analysis shows that spot gold will consolidate between $1,390 and $1,410 per ounce as the correction on Thursday has temporarily violated its uptrend, said Reuters market analyst Wang Tao.