Gold Slides in Metal Market Loses 0.2%

Gold

 

Gold XAU= was set for its third week of gains as political uncertainty spurred demand for the safe haven precious metal, but performed below expectation on the last trading day of the week.

The precious metal depreciated by 0.2 percent on Friday, February 17 as a result of lackluster activities in the metal market.

Copper CMCU3 was set to end the week lower as profit-taking pared back the price of the three-month copper contract, though concerns over supply from Chilean and Indonesian mines remained.

Meanwhile, in the currency market, the dollar was 0.1 percent weaker on the day at 113.140 yen JPY= after losing 0.8 percent overnight. It had briefly risen to a two-week peak of 114.955 on Wednesday.

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