Gold was slightly higher on Friday and headed for its biggest weekly gain in more than a month, shrugging off the credit rating downgrade of Spain ahead of a G20 meeting whose agenda will be dominated by the eurozone debt crisis. Spot gold inched up 0.3 percent to $1,671.80 an ounce by 0633 GMT, on course for a rise of 2.1 percent from a week earlier, its biggest weekly gain since early September in the run-up to a record above $1,920.
US gold also gained 0.3 percent to $1,673.50 an ounce in thin volume.