Gold prices rose on Friday and were set to post a small gain for a second week running, supported by tensions over Syria. Spot gold was up 0.1 percent at $1,336.45 an ounce as of 0648 GMT, and was set for a weekly gain of 0.3 percent. US gold futures eased 0.2 percent to $1,339.50 an ounce.
Spot gold is expected to rise to $1,348 per ounce, as it has found a support at $1,334, said Reuters' technical analyst Wang Tao. Prices are gaining on tensions over Syria, that has stoked geopolitical concerns, said Richard Xu, a fund manager at HuaAn Gold, China's biggest gold exchange-traded fund.
President Donald Trump and his national security aides on Thursday discussed US options on Syria, where he has threatened missile strikes in response to a suspected poison gas attack, as a Russian envoy voiced fears of wider conflict between Washington and Moscow. Trump, however, cast doubt over the timing of his threatened strike on Syria on Thursday, by tweeting that an attack on Syria "could be very soon or not so soon at all."
Gold prices dropped 1.3 percent on Thursday, the biggest single-day percentage fall since March 28. Prices have fallen over $25 an ounce since climbing to an 11-week high of $1,365.23 an ounce on Wednesday.
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