Gold prices remained under pressure on Friday, as robust US data encouraged a return to riskier assets and hit demand for safe-haven bullion, also sending platinum down 3%. Spot gold was down 0.6% to $1,509.41 per ounce as of 0709 GMT, after shedding 1% to a low of $1,504.30, its lowest since Aug. 23. US gold futures slid 0.5% to $1,517.90 per ounce.
Upbeat private payrolls and services industry data from the United States sent gold prices plunging 2% on Thursday. The declines put gold on pace for its second straight week of losses. "Thursday's data was positive, causing gold prices to reduce. We now expect a lot of volatility in the gold markets," said Brian Lan, managing director at dealer GoldSilver Central in Singapore.
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