• Gold prices rose slightly on Friday as investors awaited the first-round of voting in the presidential French election at the weekend and possible announcements about tax changes in the United States.
• U.S. gold futures <GCcv1> settled up 0.4 percent at $1,289.10.
• "Into the near term, if the geopolitical tensions intensify, there is a chance that gold prices will reach $1,300 or more," OCBC analyst Barnabas Gan said.
• Investors were also watching events in Washington. President Donald Trump's administration will unveil a tax reform plan soon and expects it will be approved by Congress this year, Treasury Secretary Steven Mnuchin said on Thursday.
• Gold is at risk of some profit-taking after a strong recent run, but should be supported by other factors, analysts said.
• "Gold struggled to hold this week's gains as the dollar strengthened and concerns over global risk eased. However, selling was relatively muted, which suggests a period of consolidation is now upon us," ANZ analysts wrote in a note.
• Spot silver <XAG=> slipped 0.6 percent to $17.89 an ounce, extending losses into a fifth session, having shed more than 3 percent so far this week despite tapping a five-month high on Monday.
Reference: Reuters
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