London — Gold prices edged up on Friday from six-month lows as the dollar slipped, but the modest nature of the recovery suggested speculators might still be poised to punish the metal further. Spot gold was up 0.2% at $1,268.65 an ounce, by 10.17am GMT. In the prior session, bullion touched $1,260.84, its lowest since December 19 2017. US gold futures for August delivery were unchanged at $1,270.50 an ounce. "Gold has not moved a lot higher and that worries me. If the dollar is weaker and gold is not reacting much, that’s usually a bad sign, that means you’ll probably get more downside," said Georgette Boele, commodity strategist at ABN AMRO in Amsterdam. "People think that since gold failed at the $1,300 level, they are seeing how far they can push it down and then move it up again. I would say it should bottom out anywhere between $1,250 and $1,200." Gold tumbled last Friday after repeatedly failing to surmount the $1,300 level as speculators rushed to liquidate long positions an...
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