Gold down to 1241 on Fed Stimulus Fears

Gold edged higher on Friday in response to a weaker dollar but remained on track for its sharpest weekly drop in more than two months as strong U.S. economic data raised uncertainty over the timing of a slowdown in stimulus measures.

Spot gold was last up up 0.2 percent to $1,245 an ounce, after hitting a fresh 4.5-month low of $1,236.29 in the previous session.

U.S. gold futures for December delivery were flat at $1,243 an ounce.  Gold was on track for a 3.4 percent weekly drop, while spot silver also headed for its worst week since mid-September, down 3.7 percent so far.


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