Gold climbed to $1,165.30 (+0.21%) on Friday, but a relatively strong dollar and expectations for an imminent rate hike by the Federal Reserve kept bullion under pressure. Gains in stock markets, triggered by China's central bank's rate cut, also cut demand for this non-interest-bearing asset.

Most market participants don't expect the Fed to raise rates at this week's meeting, but they will be looking for signs of readiness to do so in December.