Gold prices slip in Asia
On Friday, gold reversed its course in Asia, with market participants waiting for further details on American spending priorities to be set by president-elect Donald Trump, which could spur demand for precious as well as industrial metals.
In New York, December delivery gold futures sagged 0.41%, trading at $1,261.25 per troy ounce, while December delivery silver futures sank 1.09%, being worth $18.532 a troy ounce.
Elsewhere in metals trading, copper edged down 0.16%, trading at $2.541 per pound after recent steep revenues. The metal is considered to be a leading indicator of the global economy. Moreover, it’s widely employed in the construction of buildings, power generation and transmission, not to mention the manufacture of consumer electronics.
Overnight, gold prices went up steeply during Europe's trading session on Thursday, as the American dollar pulled back from a two-week peak reached in wake of Donald Trump’s election win.