Gold edges up in Asia

Gold edged up more than half a percent on Friday as investors used bullion to shelter from the storm engulfing financial markets on concerns that the United States may be facing another recession and Europe's debt crisis is spreading to some of its largest economies.
Spot gold rose 0.84 percent to $1,661.66 an ounce by 0617 GMT, having hit a low of around $1,641. Bullion struck a record around $1,681 an ounce on Thursday before losing much of the gains.