17.08.201723:16:00UTC+00Gold Prices Steady, Supported by Geopolitical Jitters

Gold prices were mostly steady early on Friday amid weaker Asian stocks, as some investors moved towards safe-haven assets on political uncertainty in the United States.

Spot gold was mostly flat at $1,286.60 an ounce, after rising for two consecutive days.

U.S. gold futures for December delivery were little changed at $1,292.60 an ounce.

Asian stocks pulled back from riskier assets on Friday while the dollar faltered on doubts regarding U.S. President Donald Trump's ability to accomplish his economic agenda.

Euro zone government bond yields dropped across the board the previous day after published comments from policymakers in Europe and the United States implied that they were cautious on withdrawing monetary stimulus too immediately.

According to Miguel Perez-Santalla, vice president of Heraeus Metal Management in New York, the FOMC minutes indicated that there might be no rate hikes until 2018 and the ECB essentially claims that the euro is too strong. He adds that "both these key factors are what is supporting gold and helping it towards the $1,300 target."