U.S. gold surges above $930 as oil rises, stocks down

NEW YORK (Reuters) - U.S. gold futures jumped 1.6 percent on Friday, trading above $930 an ounce as record crude oil prices and weak of U.S. stocks boosted bullion's appeal.

AT 12:57 p.m. EDT, the gold contract for August delivery on the COMEX division of the New York Mercantile Exchange was up $14.40, or 1.6 percent, at $929.50 an ounce, after setting a session high of $930.70.

Friday's gains in gold futures extended the previous session's nearly 4 percent rally.

(Reporting by Frank Tang; Editing by David Gregorio)