Gold held steady early on Friday and was on track for a second consecutive weekly gain after easing from a three-week high hit in the previous session.

FUNDAMENTALS

* Spot gold edged down 0.04 percent to $1,243.80 per ounce at 0049 GMT after touching a three-week high on $1,247.48 an ounce in the previous session. It has risen about 1.3 percent for the week so far.

* U.S. gold futures for August delivery fell 0.15 percent to $1,243.60 per ounce.

* The ECB left its ultra easy monetary policy unchanged on Thursday and did not even discuss clawing back stimulus, suggesting it may delay an inevitable decision on tapering bond buys until the latest possible moment.

* The number of Americans filing for unemployment benefits fell more than expected last week, touching its lowest level in nearly five months, suggesting strong job gains that should continue to underpin economic growth.

* India's Paytm plans to sell 5 tonnes of gold valued around $200 million this year, the digital payments firm said on Friday, as it strives to develop a viable business from its e-wallet platform.

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