Investing.com -- Gold prices rose on Friday as investors drew in their horns at the end of a week that has ultimately done little to give the market any real sense of direction.
Global central banks have done little to encourage new long positions this week, disappointing the hopes of some who were counting on a robust easing of monetary policy across the world between now and the end of the year.
"A pattern is seeming to repeat itself," said analysts at Frankfurt-based Landesbank Hessen-Thueringen in a weekly note. "Whenever the U.S. equity market comes under pressure, the U.S. President de-escalates. Admittedly that doesn't help find a real solution, but it seems it's enough for many investors to change back into risk-on mode."
By 1 PM ET (1500 GMT), gold futures for delivery on the Comex exchange were up 0.3% at $1,512.25 a troy ounce.