SINGAPORE, Jan 19 Gold edged up on Friday but hovered below its highest level in two week

SINGAPORE, Jan 19 (Reuters) Gold edged up on Friday but hovered below its highest level in two weeks hit the previous day as dealers watched movements in the currency and energy markets for direction.

-- Spot gold inched up to $628.30/629.30 an ounce from $628.00/629.00 an ounce late in New York.

-- Gold climbed to $636.40 an ounce on Thursday, its highest since Jan. 3, but then dropped after oil prices tumbled on US data showing a large increase in crude supplies last week.

-- Investec Australia pegged support around $610 an ounce.

-- Precious metals consulting firm GFMS said the price of gold was expected to rise this year as demand from investors grows amid geopolitical concerns and a weak outlook for the U.S. dollar. [ID:nN17333062] -- Benchmark gold futures on the Tokyo Commodity Exchange, currently December 2007, fell 13 yen per gram to 2,473 yen, reflecting losses in New York's COMEX market.

-- US crude oil futures edged down on Friday but held above the $50 a barrel level that was broken on Thursday, as players looked for direction after a large build in US crude stocks prompted heavy losses the previous day.

-- The euro was slightly higher at $1.2965 .

-- Silver edged up to $12.64/12.71 an ounce from $12.62/12.69 an ounce.

-- Platinum fell to $1,143/1,148 an ounce from $1,154/1,160 in New York.

-- Palladium rose to $337/342 an ounce from $336/341.

REUTERS PKS BST0706