Gold steadied on Friday as stock markets turned lower, with the shiny yellow metal holding onto Thursday's 2% gains on expectations that rock-bottom interest rates will persist.
Spot gold was $1,232.36 U.S. an ounce, little changed from $1,231.95 late on Thursday. U.S. gold futures for April delivery were up 0.6% at $1,233.50 U.S.
Commentators insist the metal is correcting after hitting a one-year high at $1,260.60 U.S. an ounce last week as uncertainty in the wider financial markets fueled interest in gold as a store of value, and threw cold water on expectations that the Federal Reserve would further hike interest rates this year.
Prices remain 14% higher than at the start of the year.
Prices for silver dipped 8.5 cents, or 0.6%, to $14.68 U.S.
