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The dollar's strength led to a 3.3 percent drop this week in gold, roughly matching the metal's last significant weekly decline since July. Gold stabled on Friday after its first weekly decline in nearly 3 months, with bullion investors keeping an eye on any statements from the G20 meeting. Any currency reaction to the G20 meeting in South Korea this weekend could provide fresh momentum to the gold market. Analysts, however, said it is unlikely for members to reach a deal on a U.S.-led initiative for a commitment from emerging economies to allow their currencies to rise. "I don't think there was an expectation that they will come up with a grand solution because everybody does have a different interest," said Axel Merk, portfolio manager of Palo Alto, California-based Merk Mutual Funds. "It's just the very beginning of a currency war. It's going to take a while to brew over. I have no doubt gold will be the beneficiary in the long run," he ...

Gold may trade in a $1,325 and $1,340 range for one session before dropping toward $1,315 an ounce, as a sharp fall is generally followed by a mild consolidation, said Wang Tao, a Reuters market analyst.    Spot gold was little changed at $1,333.20 an ounce by 0303 GMT, off the $1,364.6 peak hit on Thursday. Gold is set for a 1.2 percent rise from a week earlier, the fourth consecutive week of gains. Spot gold was steady on Friday, after staging its biggest daily loss in two months in the previous session triggered by a rebound in the dollar, as the market awaits a key U.S. payrolls data for indications on the state of the economy. New U.S. jobless claims fell to a near three-month low, data showed, shoring up the U.S. dollar. Still, it was not strong enough to diffuse speculation on more monetary easing from the Federal Reserve. Investors are eyeing the all-important U.S. non-farm payrolls for September due later in the day, which were expected to be unchanged, acc...