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Gold prices slipped on Friday and were on track for their first weekly drop in three as hopes of higher U.S. interest rates and easing geopolitical tensions pulled down the demand for the precious metal.
Spot gold fell 0.3 percent to $1,341.33 per ounce. The yellow metal was down 0.2 percent on the week.
U.S. gold futures lost 0.3 percent at $1,344.50 an ounce.
Market jitters over Western missile strikes in Syria that provided some support to gold earlier in the 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.
Investors were also relieved that no new U.S. demands on trade came out of a summit between Japanese Prime Minister Shinzo Abe and Trump.
Among other precious metals, spot silver fell 0.1 percent to $17.19, after notching more than a 2-½-month peak at $17.35 in the previous session.
Platinum dropped 0.2 percent to $930.74. It hit a more than three-week high at $953.50 in the session earlier. Palladium rose 0.6 percent at $1,031.99. It reached a 1-½-month peak of $1,057.20 on Thursday.
