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Gold slips as markets calm, but hovers near 10-week high
Friday, 12 October 2018 17:45 WIB | PRECIOUS METALS |GOLDEMASBullion Spot EmasEmas berjangka

Gold prices fell on Friday as Asian shares firmed, but the metal held near a more than 10-week high hit in the previous session when it breached a key resistance level, stoking optimism about a potential uptick in prices.

Spot gold was down 0.3 percent to 1220.48 an ounce in London after jumping about 2.5 percent on Thursday, its sharpest gain since June 2016, as a rout in equities sent investors rushing to safe-havens.

U.S. gold futures were down 0.4 percent at $1,222.30 an ounce.

Thursday's surge ensured that bullion broke above a narrow trading range it has been stuck in for the past 1-1/2 months.

Spot gold has gained about 1.4 percent this week, on track for its best weekly performance in seven.

Source: CNBC

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