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Gold rises on Syria concerns, on track for second week of gains

Gold rose on Friday and was set to post a small gain for a second week running, supported by tensions over Syria.

Spot gold XAU= rose 0.4 percent to $1,339.71 an ounce as of 0324 GMT, and was set for a weekly gain of 0.5 percent. U.S. gold futures GCcv1 were up 0.1 percent at $1,342.70 an ounce.

Spot gold is expected to rise to $1,348 per ounce, as it has found a support at $1,334, said Reuters' technical analyst Wang Tao. TECH/C

Prices are gaining on tensions over Syria, that has stoked geopolitical concerns, said Richard Xu, a fund manager at HuaAn Gold, China's biggest gold exchange-traded fund.

President Donald Trump and his national security aides on Thursday discussed U.S. options on Syria, where he has threatened missile strikes in response to a suspected poison gas attack, as a Russian envoy voiced fears of wider conflict between Washington and Moscow. however, cast doubt over the timing of his threatened strike on Syria on Thursday, by tweeting that an attack on Syria "could be very soon or not so soon at all." stocks recovered and the dollar firmed after Trump's comments, which weighed on the dollar-denominated bullion.