London — Gold prices were steady on Friday with investors awaiting the first round of voting in the French election at the weekend and possible announcements about tax changes in the US. Spot gold was down 0.1% at $1,280.51 an ounce at 2.30pm GMT, on track for its first weekly drop in six. US gold future also fell 0.1% to $1,282.50. "The big news over the weekend will be the French election and the market will, to an extent, be on hold ahead of that," said Mitsubishi commodities analyst Jonathan Butler. There is potential for safe-haven buying of gold after France said security forces were fully mobilised for the weekend vote after an Islamist militant killed a policeman on Thursday. "Into the near term, if the geopolitical tensions intensify, there is a chance that gold prices will reach $1,300 or more," OCBC Bank analyst Barnabas Gan said. Moving above $1,290 or $1,291 would be significant as it would break above a down-trend that has been in place since gold touched an all-time h...
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