Gold fell on Friday as hints of more stimulus from the European Central Bank brought the euro down and pushed stocks higher.
Benchmark Brent crude futures, having fueled risk aversion by plumbing 12-year lows, closed out the week by soaring 9% on Friday.
That fed into better appetite for assets seen as higher risk, such as stocks, and weighed on gold.
Spot gold was down 0.4% at $1,096.36 U.S. an ounce, while U.S. gold futures for February delivery closed down $1.90, or 0.2%, at $1,096.30 U.S. The metal rose to a two-month high of $1,112 U.S. last week as equities and oil slid.
ECB President Mario Draghi said on Thursday that fading growth and inflation prospects will force the bank to review its policy stance in March, a strong signal that more easing could be coming within months.
Even with the day's loss, gold was poised to end the week higher.
Platinum was up 1.5% at $829.23 U.S. an ounce, rebounding from the previous session's seven-year low of $806.31 U.S. Palladium gained 0.1% to $499.00 U.S.
Silver faded 0.3% to $14.02 U.S. an ounce.
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