Gold rose for a third day on Friday amid weaker Asian stocks, with some investors gravitating towards safe-haven assets on political uncertainty in the United States and after a terrorist attack in Spain killed 13 people. Spot gold climbed 0.3 percent to $1,291.65 per ounce by 0703 GMT, after climbing for two straight days.
US gold futures for December delivery were up 0.5 percent at $1,298.20 per ounce. Markets were further shaken as Spain mounted a sweeping anti-terror operation on Friday after a suspected Islamist militant drove a van into crowds in Barcelona, killing 13 people before fleeing.
"The risk factors, including the Trump administration, geopolitical tensions and diplomatic crises, all are now in an evolving state. I don't think they have been solved or discounted yet," Mark To, head of research at Hong Kong's Wing Fung Financial Group, said. Spot gold faces resistance at $1,291 per ounce and it may hover below this level or retrace towards support at $1,271 again, Reuters technical analyst Wang Tao said.
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