The following chart provides a update on the current 24h spot price of gold. Chart and commentary to follow ~

Courtesy of MarketWatch:

Gold futures gain; softness in dollar fuels demand

NEW YORK (MarketWatch) -- Gold futures rose to trade near $921 an ounce Friday, gaining as the dollar traded lower against most of its major foreign-exchange rivals.

Gold for April delivery surged $11.30 at $921.30 an ounce on the New York Mercantile Exchange.

"The fact that dips below $900 remain well-supported continues to suggest that investors are still keen to increase their holdings, and that once the current base-building phase is over, the metal will look to challenge" its recent highs, said James Moore, analyst at TheBullionDesk.com, in a research note.

In Thursday's trading, gold futures moved $5 an ounce higher, extending a surge of $14.70 an ounce, or 1.6%, on Wednesday.

The dollar tumbled more than 1% against the Canadian dollar, reflecting strong employment data reported out of Canada, but otherwise stuck mostly to recent trading ranges as currency traders awaited a meeting of Group of Seven finance ministers and central bankers.

The dollar index, which tracks the performance of the greenback against a basket of six major currencies, was at 76.692, down from 76.851 in late U.S. trading Thursday. See Currencies.

'Despite a bear-market rally in the dollar, falling oil prices and numerous pundits jumping on the bearish gold bandwagon, gold has once again demonstrated it remains firmly in a secular bull-market uptrend.'

— Peter Grandich, The Grandich Letter

Crude-oil futures posted strong gains, as some delegates of the Organization of Petroleum Exporting Countries said the cartel should cut production to shore up prices, and as production disarrays in North Sea and Africa continued.

Oil prices have come down from their record highs in recent weeks on concerns that a recession in the United States will lower oil demand. See Futures Movers.

"Despite a bear-market rally in the dollar, falling oil prices and numerous pundits jumping on the bearish gold bandwagon, gold has once again demonstrated it remains firmly in a secular bull-market uptrend," said Peter Grandich, editor of The Grandich Letter, in emailed comments.

Also on Nymex, March silver advanced 20.5 cents at $16.98 an ounce, March palladium gained $7.30 at $435.75 an ounce and March copper rose 7.85 cents at $3.5325 a pound. April platinum surged $22.60 at $1,874 an ounce.