SINGAPORE (Commodity Online) : Gold prices remained highly volatile in Asian trade Friday after rising one percent overnight on a weak dollar.
Gold for immediate delivery was seen trading at $1105.81 an ounce at 11.30 a.m Singapore time while gold futures for April delivery was at $1,106.91 an ounce at the same time.
Trade commodities or equities from across the globe. Join Now
Analysts said bullion prices remained highly volatile and gains could be capped by weaker oil prices and a volatile euro.
On Thursday, the most active gold contract for April delivery rallied $11.30, or 0.9 percent, to finish at $1,108.50 despite hitting a two-week low of $1088.50.
Spot gold ended at $1104.7 an ounce after regained the psychological $1,100 level on the unverified report about China's purchase of IMF gold. Bullion hit a 1-month high above $1,130 on Monday.
Meanwhile, the world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings stood at 1,106.987 tones as of Feb. 25, unchanged from the previous business day.
The greenback gave back some gains Friday, buoying the precious metal to bounce from the weakest level in two weeks.
