Gold prices slip after a one-month high

Will it encourage people to buy gold in Dubai?

After a one-month high the day before, gold prices slipped on Friday as the dollar strengthened on a solid US jobs report.
Spot gold was down 0.7 percent at $1,171.70 an ounce by 2:51 p.m. EST (1951 GMT), but up 1.75 percent on the week, its biggest weekly rise in two months. With the uncertainty ahead of US President-elect Donald Trump's inauguration on Jan. 20, investors turned cautious after gold reached its highest since December 5 at $1,184.90 on Thursday.
"Any profit that can be booked at this early stage is welcomed by most, so that's why we are seeing a scaling back a bit," said Saxo Bank analyst Ole Hansen. US gold futures settled down $7.9, or 0.67 percent, at $1,173.4 per ounce.
Spot silver was down 0.7 percent at $16.46, while platinum was 0.7 percent lower at $961.35, though it was on track for a gain of 6.8 percent this week, its strongest since July.
 
 

• UAE
• Gold and Forex