The U.S. dollar was minimally changed after having pushed to its lowest rate in five weeks against the shared currency of the European Union as political leaders in Washington continued negotiations to stave off the economy slipping off the fiscal cliff once the new year dawns.
"We've seen very good demand after the dip and it's interesting to see physical demand suddenly pick up," currency and metal trading head Bernard Sin with bullion refiner MKS Finance in Geneva told the news service on Friday. "The market is still worried about the fiscal cliff and how it will turn out. It's the safe-haven logic" that is bolstering the yellowish metal.
At 9:47 a.m. on Friday, gold futures fell 0.15 percent, a $2.55 loss to $1,723.19 per troy ounce.
Reuters reports the yellowish metal was aiming toward monthly gains of 0.6 percent despite weekly losses amounting to roughly 1.3 percent.
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