Gold hovered near $1,580 per ounce on Friday as investors clung to hopes for more monetary easing from the US central bank after weak data in the previous session, but a dollar rebound will likely cap gains. Spot gold was flat at $1,581.25 per ounce by 0627 GMT, on course for a weekly loss of about 0.5 percent. The contract gained half a percent in the previous session. US gold futures for August delivery also traded little changed at $1,581.20.