Gold eased 0.4 percent in Europe on Friday, retreating from the one-week high it hit in the previous session, as the euro slipped versus the dollar as investors awaited details on a bailout plan for Greece.
Prices rallied on Thursday as fears over the outlook for paper currencies prompted buying, taking the precious metal to a peak of $1 097.75 (R8 398).
It could be set to revisit last week's highs above $1 100 an ounce, analysts said.
"The sharp jump in gold prices may trigger some long liquidation and profit taking, but the strong price performance and the move over $1 080 an ounce will likely encourage additional buying, we believe," HSBC said in a note.
PRICES
* Spot gold was at $1 090.65 an ounce at 09:31 SA time compared with $1 095.85 late in New York on Thursday.
* Silver was at $15.59 from $15.64.
* Platinum at $1 521 from $1 528.
* Palladium at $417.50 from $419.50.
DATA/EVENTS
* US Commerce Dept releases Jan retail sales, 15:30 SA time.
* Reuters/University of Michigan Surveys of Consumers releases preliminary US Feb consumer sentiment index, 16:55 SA time.
* US Commerce Dept issues December business inventories, due at 17:00 SA time.
* US Economic Cycle Research Institute (ECRI) releases weekly index of economic activity for week to Feb 5 at 17:30 SA time.
* Euro zone flash GDP estimates, 12:00 SA time.
* Euro zone industrial production data, 12:00 SA time.
MARKET NEWS
* The dollar strengthened against the euro as the single currency softened across the board, weighed by disappointment among investors over lack of detail from the European Union on helping debt-laden Greece.
* Oil eased to just above $75 a barrel, pressured by a firmer US dollar as investors awaited further details on the plans to help Greece.
* Asian shares rose on Friday as investors took comfort from the EU's pledge to support Greece. Stock index futures pointed to European shares extending a winning run to a fifth session on Friday.
FUNDAMENTALS
* Australia's Adamus Resources has hedged half of the initial output from a small gold mine it is developing in Ghana, a top executive said on Friday.
* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at 1 106.378 tonnes as of February 11, unchanged from the previous business day.
TECHNICALS
* Gold support at $1 074, resistance at $1 100, 14-day RSI at 51.5.
* Silver support at $15.09, resistance at $15.73, 14-day RSI at 40.9.
* Platinum support at $1 494, resistance at $1 555, 14-day RSI at 48.6. - Reuters
