Gold fell for a third day on Friday after British elections failed to deliver a clear majority for Prime Minister Theresa May, knocking the pound sharply lower and helping lift the U.S. dollar to its highest since late May.
The snap vote wiped out May's parliamentary majority, throwing the country into turmoil ahead of complex talks on Britain's exit from the European Union due to begin in 10 days.
Spot gold trundled lower 0.3% at $1,274.41 U.S. an ounce Friday morning, while U.S. gold futures for August delivery were $2.80 an ounce lower at $1,276.70 U.S.
The precious metal fell on Thursday following positive U.S. economic data, and after former Federal Bureau of Investigation (FBI) director James Comey's Congressional testimony was judged to contain no major surprises.
Among other precious metals, palladium was up 1.5% at $866.00 U.S. an ounce, having earlier touched its highest in nearly three years at $867.50 U.S.
Silver was down 0.2% to $17.34 U.S. per ounce, while platinum was 0.3% higher at $934.50 U.S.
Related Stories
