Gold moved off earlier two-week highs on Friday, as the dollar rose slightly, but was still on track for its second weekly gain after weak U.S. data eased speculation the Federal Reserve could soon scale back monetary easing.
Fears the U.S. central bank could start reining in its $85 billion in monthly asset purchases as early as the summer had sparked a sell-off in gold and a rally in the dollar.
But recent weak GDP and jobs data boosted chances of the Fed continuing its easing policy and keeping interest rates low. Low rates usually encourage investors to put money into non-interest-bearing assets like gold.
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