Gold Prices Hold Above $1,300 U.S.

Gold prices moved slightly downwawrd on Friday on profit-taking, after breaking above $1,300 U.S. in the previous session when U.S. President Donald Trump's decision to call off a meeting with North Korean leader Kim Jong Un triggered safe-haven buying.

Spot gold was down 0.2% at $1,302.18 U.S. per ounce early Friday morning, after gaining nearly 1% in the previous session in its biggest one-day percentage rise since April 11. It remains on track for a weekly advance.

U.S. gold futures for June delivery fell 0.2% to $1,301.80 U.S. per ounce.

Gold is often seen as a safe investment during times of political and financial uncertainty, alongside the Japanese yen.

The U.S. dollar regained its footing on Friday after dropping to a two-week low versus the yen in the previous session, as North Korea said it was open to resolving issues with the United States after Trump on Thursday called off a summit with the North, citing Pyongyang's "open hostility".

A stronger greenback makers dollar-denominated gold more expensive for holders of other currencies.

Some experts are saying that the North's conciliatory remarks and commitment to U.S.-North Korea talks had eased some concern about the crisis and pressured gold.

Among other precious metals, silver fell 0.3% to $16.57 U.S. an ounce, while platinum edged down 0.1% to $908.50 U.S. an ounce after touching its highest since May 14 at $914.30 U.S. in the previous session.

Palladium climbed about 0.2% to $976.10 U.S. an ounce.

All three metals were on course for weekly gains.