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Gold turns lower but remains on track for weekly gains

FXStreet (Córdoba) - Gold pulled back on Friday but remained on track for a small weekly gain after 3 weeks of losses.

The yellow metal posted a fresh 2014 low at $1,206.84 on Thursday, but managed to recover ground as the slump in US stocks sent investors looking for safe-havens. However, the recovery attempt stalled at the $1,230 zone at the beginning of the European session. With the metal having retraced completely intraday gains, gold is currently trading at $1,220 an ounce, 0.1% below its opening price.

Gold remains vulnerable near the $1,200 level as the greenback headed for an eleventh week of gains.

USD/JPY extends gains above 109.00

The greenback is now resuming its upside vs. the Japanese currency, pushing USD/JPY beyond the 109.00 handle and challenging session highs at the same time....
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