Gold slipped on Thursday as share prices fell, but tensions in the Middle East and worries about the US "fiscal cliff" are expected to boost the metal's safe-haven appeal and spur buying from investors. Gold fell $3.01 an ounce to $1.723.04 by 0701 GMT.
It rallied to a three-week peak of around $1,738 on Friday, when investors bought the metal on expectations US monetary policy will remain loose after President Barack Obama's re-election. US gold for December lost $6.60 an ounce to $1,723.50.