London — Gold prices recovered on Friday from six-month lows as speculators took profits amid a weaker dollar, but some analysts warned that more losses were likely. Spot gold added 0.2% to $1,250.53 an ounce by 9.30am GMT. On Thursday, it touched $1,245.32, its lowest since December 13 2017. US gold futures edged up 0.1% to $1,251.80 an ounce. "We’re receiving only a couple of dollars bounce on the back of a pretty decent weakening of the dollar, so gold’s not showing any signs of strength," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. "The shorts are still in control and the momentum is negative. The dollar and US treasuries have taken over the role of safe haven this month and as long as the trade war is creating uncertainty then that will probably prevail." Gold was on track for a third straight weekly decline, having slipped 1.4% so far this week. Spot gold was down about 3.6% for the month, heading for its biggest monthly drop since November 2016. Th...
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