Gold climbs

Bengaluru

Gold inched up on Friday as the euro rose against the dollar, but was on track for its biggest weekly fall since November on receding political risks in France and expectations of a U.S. rate rise as early as June.

Gold edged up slightly from a near seven-week low of $1,225.20 hit on Thursday, but is poised to end the week down over 3 percent, the biggest percentage fall since the week ending Nov. 11. Spot gold rose 0.1 percent to $1,228.17 per ounce as of 0311 GMT.

"There is no doubt that gold is going through a soft patch right now, but it is approaching good support between $1,190 and $1,200, which at this point is not completely out of reach," said INTL FCStone analyst Edward Meir.

Spot gold may fall to $1,209 per ounce, as it has pierced below a support at $1,229, according to Reuters technical analyst Wang Tao. U.S. gold futures were steady at $1,228.40 an ounce.