Sharjah24 - Reuters: Gold prices fell on Friday as some investors booked profit after a recent rally that pushed bullion to a record high, although ongoing tensions in the Middle East helped limit the decline.
Spot gold eased 0.4% to $2,724.50 per ounce by 1159 GMT. Prices had hit an all-time high of $2,758.37 on Wednesday.
U.S. Secretary of State Antony Blinken said on Friday there was a real sense of urgency in getting to a diplomatic resolution to end the conflict in Lebanon between Israel and Hezbollah, while calling for the protection of civilians.
Approaching U.S. Nov. 5 presidential election, for which opinion polls show the race to the White House remains tight, are focusing attention on the economic, financial and geopolitical risks ahead.
Next week, investors in non-yielding gold will be focused on the U.S. inflation and economic growth data for clues about the health of the economy which may increase volatility in precious metals, said Adrian Ash, head of research at BullionVault.
"But going into the knife-edge election, any dips in gold are being bought and remain shallow," he added.
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