Gold rises in Asia

 Gold extended on Friday gains from the previous session, when it rose the most in two weeks on German Chancellor Angela Merkel's support for more action by the European Central Bank to fight the bloc's debt crisis. Spot gold inched up 0.2 percent to $1,617.66 an ounce by 0703 GMT but was on course for a weekly loss of 0.1 percent despite posting in the previous session its biggest one-day gain in two weeks.

This is gold's third session of gains. The US gold futures contract for December delivery was little changed at $1,620. 

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