Investing.com - Gold futures gained ground on Friday, pulling away from two-month lows as markets were jittery ahead of a highly anticipated speech by Federal Reserve Chair Janet Yellen in Jackson Hole later in the day.
On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,280.80 a troy ounce during European morning trade, up 0.42%.
The December contract settled 1.53% lower on Thursday to end at $1,275.4 a troy ounce.
Gold futures were likely to find support at $1,277.90 an ounce, Thursday's low and resistance at $1,295.00, the high from August 5.
Gold prices dropped to two-month lows on Thursday, after a string of upbeat U.S. data fuelled optimism over the strength of the country's economic recovery.
Investors now looked ahead to the second day of the Fed's annual meeting of top central bankers and economists in Jackson Hole, Wyoming.
The spotlight will be on Fed Chair Janet Yellen, who will speak later Friday in her first appearance at Jackson Hole as head of the U.S. central bank.
Other speakers include European Central Bank President Mario Draghi and Bank of Japan Governor Haruhiko Kuroda.
Elsewhere on the Comex, silver for September delivery climbed 0.50% to trade at $19.513 a troy ounce, while copper for September delivery gained 0.67% to trade at $3.198 a pound.