Gold saw a bit of a whip around in Friday's....>

GOLD: Gold saw a bit of a whip around in Friday's session following the release

of the US employment report before ending the week close to Thursday's lows.

This saw gold end the week with its lowest weekly closing level since

mid-January, albeit only a dollar/oz less than the previous week.

- Data released yesterday showed that the PBoC had continued to increase its

gold reserves, making net purchases for the fourth month in a row.

- This news, in line with a small risk-off move in Asian equities, has seen a

good start to the week for gold. The yellow metal is just around $4.50/oz higher

at around $1296.20 at writing and has already challenged last week's highs of

1297.10.