Spot gold was fetching $650.50/$652.00 an ounce at 0704 GMT, down from $651.20/$652.70 last quoted in New York and off Friday's peak of $653.20.
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Gold Eased From Earlier Highs
Gold retreated from earlier highs on Friday as bargain hunting subsided amid nervousness caused by this week's sell-off triggered by the strength of the dollar and rising U.S. Treasury yields
Gold retreated from earlier highs on Friday as bargain hunting subsided amid nervousness caused by this week's sell-off triggered by the strength of the dollar and rising U.S. Treasury yields.
Tokyo gold futures prices closed higher reflecting a weaker yen, which hovered at a 189 yen; year low against the dollar, but they drifted off from session highs in line with the cash price.
Some dealers said gold's prospect looked a bit brighter since it recovered from a three-month low of $642.90 hit on Wednesday, while others thought the precious metal could come under pressure again.
Spot gold was fetching $650.50/$652.00 an ounce at 0704 GMT, down from $651.20/$652.70 last quoted in New York and off Friday's peak of $653.20.
Spot gold was fetching $650.50/$652.00 an ounce at 0704 GMT, down from $651.20/$652.70 last quoted in New York and off Friday's peak of $653.20.
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