Gold prices decline.

Byline: S. Kamal Hayder Kazmi

Gold prices eased on Friday, the session after their biggest daily gain in more than two years, coming under pressure as the US dollar climbed and global stocks rebounded from a six-day rout.

Spot gold was down 0.5 percent at $1,217.81 an ounce in the New York trade on Friday. On Thursday, bullion jumped about 2.5 percent on safe-haven buying during an equities selloff.

Thursday's peak of $1,226.27 was the highest since July 31. Spot gold was on track for its biggest weekly gain in seven weeks, up about 1.3 percent for the week. US gold futures settled down $5.6, or 0.46 percent, at $1,222.

During Thursday's surge, bullion broke above the narrow trading range of the past 1-1/2 months.

In other precious metals, palladium fell over 1 percent to $1,065.72. The metal rose to its...