Global Stock Markets
Gold prices steadied on Friday after breaking above $1,300 an ounce in the previous session when US President Donald Trump called off a meeting with North Korean leader Kim Jong Un, fanning political tensions.
Spot gold was flat at $1,304.84 an ounce at 0944 GMT but on track to end the week up 1 per cent for its biggest weekly gain since March.
US gold futures for June delivery were also unchanged at $1,304.40.
Gold is traditionally used as a safe place to park assets ..
Gold tends to move higher when the US dollar weakens because this makes dollar-priced bullion cheaper for buyers with other currencies.
After losing ground on Thursday the dollar strengthened with support from a North Korean statement that it was open to resolving issues with the United States.
Global shares also regained some lost ground after Pyongyang's measured response to Trump's announcement, reducing the clamour for gold as a safer asset.
On the technical side, resistance was at gold's 200-day moving average around $1,307, with Fibonacci support at $1,286.80, ScotiaMocatta analysts said.
Investors were focused on the psychologically important $1,300 level, MKS trader Samuel Laughlin said.
Gold had been trading in a range between about $1,310 and $1,360 since hitting a 1.5 year high in January.
Gold had been trading in a range between about $1,310 and $1,360 since hitting a 1.5 year high in January.
In other precious metals, silver was up 0.1 per cent at $16.64 an ounce, on track for a weekly gain of 1.3 per cent.
Platinum was 0.3 per cent down at $906.24, up 2.7 per cent on the week, while palladium was flat at $974.55 but set to finish with a weekly gain of 1.2 per cent.
Spot gold was flat at $1,304.84 an ounce at 0944 GMT but on track to end the week up 1 per cent for its biggest weekly gain since March.
US gold futures for June delivery were also unchanged at $1,304.40.
Gold is traditionally used as a safe place to park assets ..
Gold tends to move higher when the US dollar weakens because this makes dollar-priced bullion cheaper for buyers with other currencies.
After losing ground on Thursday the dollar strengthened with support from a North Korean statement that it was open to resolving issues with the United States.
Global shares also regained some lost ground after Pyongyang's measured response to Trump's announcement, reducing the clamour for gold as a safer asset.
On the technical side, resistance was at gold's 200-day moving average around $1,307, with Fibonacci support at $1,286.80, ScotiaMocatta analysts said.
Investors were focused on the psychologically important $1,300 level, MKS trader Samuel Laughlin said.
Gold had been trading in a range between about $1,310 and $1,360 since hitting a 1.5 year high in January.
Gold had been trading in a range between about $1,310 and $1,360 since hitting a 1.5 year high in January.
In other precious metals, silver was up 0.1 per cent at $16.64 an ounce, on track for a weekly gain of 1.3 per cent.
Platinum was 0.3 per cent down at $906.24, up 2.7 per cent on the week, while palladium was flat at $974.55 but set to finish with a weekly gain of 1.2 per cent.
Spot gold was flat at $1,304.84 an ounce at 0944 GMT but on track to
end the week up 1 per cent for its biggest weekly gain since March.
US gold futures for June delivery were also unchanged at $1,304.40.
Gold is traditionally used as a safe place to park assets ..
US gold futures for June delivery were also unchanged at $1,304.40.
Gold is traditionally used as a safe place to park assets ..
Gold prices steadied on Friday after breaking above $1,300 an ounce in
the previous session when US President Donald Trump called off a meeting
with North Korean leader Kim Jong Un, fanning political tensions.
Spot gold was flat at $1,304.84 an ounce at 0944 GMT but on track to end the week up 1 per cent for its biggest weekly gain since March.
US gold futures for June delivery were also unchanged at $1,304.40.
Spot gold was flat at $1,304.84 an ounce at 0944 GMT but on track to end the week up 1 per cent for its biggest weekly gain since March.
US gold futures for June delivery were also unchanged at $1,304.40.
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