Gold prices drew back, on Friday, April 20, and were on track to end the week lower as the dollar advanced on expectations of higher interest rates and the view that global political and security risks were easing.
Spot gold was down 0.3 percent at $1,340.66 an ounce by 1157 GMT, while U.S. gold futures fell 0.5 percent to $1,342.30 per ounce. Spot gold is heading for its first weekly decline this month.
Market jitters over Western missile strikes in Syria that provided some support to gold this week eased, while the geopolitical outlook on the Korean Peninsula brightened as U.S.
President Donald Trump said on Wednesday he hoped a summit with North Korean leader Kim Jong Un would be successful.
Gold is often used as safe haven in times of uncertainty. Adding further pressure on bullion, a U.S. central banker said the Federal Reserve should keep raising interest rates this year and next to keep the economy from overheating and financial stability risks from rising.
Higher rates dent the appeal of non-interest yielding bullion while lifting the dollar, in which it is priced.
Among other precious metals, spot silver was down 0.6 percent at $17.10, after hitting a more-than 2-1/2-month high at $17.35 in the previous session.
Platinum fell 0.2 percent to $931. It touched a more-than three-week high at $953.50 in the previous session, Reuters reports.
Palladium slipped 0.5 percent to $1,020.10. It hit 1-1/2-month high of $1,057.20 on Thursday.
