By: Reuters
All eyes are on Bernanke's speech in Jackson Hole scheduled for 1400 GMT, with markets eager to hear what the Fed's plan is to help a struggling U.S,. economy, although the growing consensus is that the Fed's options to stimulate the economy are limited.
Spot gold [XAU= 1775.40
5.90 (+0.33%) 
]edged down 0.3 percent to $1,763.71 by 0102 GMT. It was on course for a 4.7-percent decline on the week, its sharpest weekly fall since week ended March 1, 2009.
U.S. gold [GCCV1 1783.40 20.20 (+1.15%) ] inched up 0.2 percent to $1,766.90.
Disappointment in Jackson Hole could spur another safe-haven rally for assets like gold which has just lost more than $100 from Tuesday's record high of $1,911.46.
Spot gold steadied on Friday after rebounding in the previous session, as investors awaited a speech by U.S. Federal Reserve Chairman Ben Bernanke later in the day.
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Tom Grill | Iconica | Getty Images |
Spot gold [XAU= 1775.40
5.90 (+0.33%) ]edged down 0.3 percent to $1,763.71 by 0102 GMT. It was on course for a 4.7-percent decline on the week, its sharpest weekly fall since week ended March 1, 2009.U.S. gold [GCCV1 1783.40
20.20 (+1.15%) ] inched up 0.2 percent to $1,766.90. Disappointment in Jackson Hole could spur another safe-haven rally for assets like gold which has just lost more than $100 from Tuesday's record high of $1,911.46.
But persistent worries over the euro zone debt crisis should buoy gold. Germany's DAX[.GDAXI 5584.14 
-96.94 (-1.71%) ] dropped as much as 4 percent on rumours the country could enact a short-selling ban following the example of other European nations. A German Finance Ministry spokesman told Reuters they were not planning a general short-selling ban.
Holdings in the SPDR Gold Trust [GLD 172.36 0.714 (+0.42%) ] remained unchanged at 1,232.314 tonnes, while holdings in the iShares Silver Trust [SLV 40.00 1.17 (+3.01%) ] dropped more than 1 percent to 9,705.90 tonnes.
Spot silver [XAG= 40.67 -0.33 (-0.8%) ] lost 0.9 percent to $40.64 an ounce, but still up from a 1-1/2 week low of $38.73 hit in the previous session.
-96.94 (-1.71%) ] dropped as much as 4 percent on rumours the country could enact a short-selling ban following the example of other European nations. A German Finance Ministry spokesman told Reuters they were not planning a general short-selling ban.Holdings in the SPDR Gold Trust [GLD 172.36
0.714 (+0.42%) ] remained unchanged at 1,232.314 tonnes, while holdings in the iShares Silver Trust [SLV 40.00 1.17 (+3.01%) ] dropped more than 1 percent to 9,705.90 tonnes. Spot silver [XAG= 40.67
-0.33 (-0.8%) ] lost 0.9 percent to $40.64 an ounce, but still up from a 1-1/2 week low of $38.73 hit in the previous session. Copyright 2011 Thomson Reuters. Click for restrictions.
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