Gold prices held steady below a two-week high in thin pre-holiday trade on Friday amid firmer equities and a sturdy dollar, remaining on track to log a second consecutive week of gains. Spot gold was steady at $1,267.08 an ounce at 0703 GMT, after hitting its highest since December 6 at $1,268.91 in the previous session. It was up 0.95 percent for the week.
US gold futures were unchanged at $1,270.40 an ounce. "(We are seeing) normal market activity ahead of the holiday weekend. Expect some profit-taking to be seen from bargain-hunters who bought at the start of the week at the $1,254 level," said Mun Chun Loh, director of private wealth at GoldSilver Central Pte Ltd in Singapore. The Moscow Exchange will launch deliverable futures for gold in 2018 in a move to further prop up bullion market liquidity, bourse chief executive Alexander Afanasiev said on Thursday.
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