Gold edged down towards key chart support on Friday after its biggest one-day loss in eight weeks, as disappointment at its failure to maintain a push this week above $1,200 an ounce undermined investor confidence.
Prices held above support at $1,180 an ounce and remained on track to end the week marginally firmer as the dollar remained under pressure against the euro, but it failed to attract fresh interest after Thursday’s 1.7 percent fall.
Spot gold was down 0.3 percent at $1,180.20 an ounce at 0930 GMT, while U.S. gold futures for June delivery were down $2.90 an ounce at $1,179.50. Earlier this week spot bullion rose as high as $1,215 an ounce.