Bengaluru — Gold prices eased on Friday on profit-taking, after breaking above $1,300 in the previous session when US President Donald Trump’s decision to call off a meeting with North Korean leader Kim Jong-un triggered safe-haven buying. Spot gold was down 0.2% at $1,302.18 an ounce at 3.12am GMT, after gaining nearly 1% in the previous session in its biggest one-day percentage rise since April 11. It remains on track for a weekly advance. US gold futures for June delivery fell 0.2% to $1,301.80/oz. "It is normal for some profit-taking to ensue after a surge (in prices). Still, gold appears to be anchored in the $1,300 range, especially with the recent uptick in geopolitical tension," said OCBC analyst Barnabas Gan. "The sustained uncertainty over (US-North Korea) negotiations will likely add further upside to gold prices given safe-haven demand," Gan said. Gold is often seen as a safe investment during times of political and financial uncertainty, alongside the Japanese yen. The ...
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