Bengaluru — Gold was little changed on Friday and poised for the biggest weekly fall in seven weeks as investors favoured higher returns over the relative safety of the metal. Spot gold was up 0.1% at $1,264.81 an ounce at 3.12am GMT, while US gold futures were steady at $1,266.30. Gold is on track for a weekly drop of 1.5%, the largest weekly percentage fall since the week of March 10, but is heading towards a gain of about 1.3% for the month. "Technically gold has not had a great week … there seems to be some pressure as the risk-on sentiment is still on despite Trump’s tax plans disappointing and especially situation in North Korea does not seem to be inflamed," a Hong Kong-based trader said. On Wednesday, President Donald Trump proposed deep US tax cuts, mainly for businesses, that would make the federal deficit balloon if enacted, drawing a cautious welcome from fiscal conservatives and financial markets. Asian stocks looked set to close a strong week on a positive note. "Peopl...
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