Gold futures ticked higher in choppy trade Friday, with the yellow metal regaining its footing as losses in European stocks and U.S. stock-index futures deepened after disappointing earnings from J.P. Morgan Chase & Co.
Gold for June delivery rose $1.20, or 0.1%, to $1,321.70 U.S. an ounce, while May silver trimmed an earlier loss to trade at $20.05 U.S. an ounce, a loss of four cents, or 0.2%.
Gold has seen big price swings so far this year, rising by nearly $200 U.S. an ounce between January and mid-March before giving up around half of the advance over the last two weeks
Meanwhile, gold appeared to find some haven-related buying support as stock-index futures dipped in the wake of an earnings miss by J.P. Morgan Chase.
On Thursday, gold jumped to its highest level in almost three weeks after investors were drawn in by U.S. Federal Reserve minutes that were perhaps less hawkish than they had been expecting.
Elsewhere in metals trading, July platinum rose 40 cents, or less than 0.1%, to $1,460.50 U.S. an ounce, while June palladium gained $3.95, or 0.5%, to $796.25 U.S. an ounce.
High-grade copper for May delivery rose a penny to $3.06 U.S. a pound.
