Gold hits two-week high

LONDON, Nov 17 (Reuters): Gold held below a two-week high on Monday, falling as the dollar strengthened after data showed Japan had slipped into recession, but lower global shares kept losses in check on concerns about global growth.
Spot gold was down 0.4 per cent at $1,183.55 an ounce by 1514 GMT after peaking at $1,193.95, the highest since Oct. 31.
The metal jumped 2.3 per cent on Friday, moving above the technical level of $1,180 as short-covering, fund buying and a sudden weakening of the dollar offset better-than-expected U.S. data.
The metal had fallen to a 4-1/2-year low of $1,131.85 an ounce on Nov. 7, due to multi-year highs in the dollar.
"Today gold is holding up pretty well even though the dollar has managed to strengthen," SaxoBank senior manager Ole Hansen said.