Gold prices on Friday fell more than 1 percent to their lowest since the January, headed for their biggest weekly decline in more than 1-1/2 years, as the dollar strengthened and global stock advances spurred risk-taking.
Spot gold was at $1,293.38 an ounce at 2:18 pm ET (1918 GMT), having fallen below the key 1,300 level for the first time since Jan. 28. It is down about 2.6 percent so far this week, the most since May 2017.
U.S. gold futures settled down 1.3 percent at $1,299.2.
"The U.S. dollar index and two-year Treasury yields have moved up over the last couple of days and these factors have prompted people to take some profits (in gold)," said Bart Melek, head of commodity strategies at TD Securities in Toronto.
"We are also seeing a continued reaction to Federal Reserve statements where hikes are still on the menu, given that data seems to be fairly strong in the United States."
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