Gold Prices Recover as Chinese Buyers Return From Holiday

Gold recovered from a two-month low, trading near $4,120 an ounce as Chinese buyers returned from a weeklong holiday.

Bullion remained headed for a third weekly loss following a 1.3% drop driven by reports that the White House is considering options to strike Iran.

Central bank purchases provided price support, with the People's Bank of China adding about 23 tons of gold to its holdings in September.