• Gold for delivery in June, the most active contract on the Comex market in New York with more than36m ounces traded (a third higher than the usual daily average volumes) touched $1,273 an ounce, the highest since November 11 last year, shortly after the open.
• In a research note quoted in MarketWatch UBS strategists Joni Teves and Roque Montero cut their forecasts for the average gold price in 2017 by $50 to $1,300. The investment bank's outlook for 2018 is even bleaker and now believes gold will average $1,325 next year. That's down from $1,450:
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• Wall Street and Main Street look for gold to maintain upward momentum next week after getting a double boost on Friday from U.S. military action followed by a disappointing jobs report.
• Gold rallied to the highest in almost five months after the US launched a missile strike against Syrian President Bashar al-Assad’s regime.
The metal was supported by a report that showed the US economy added fewer jobs than economists expected.
• Spot gold climbed as much as 1.5 percent to US$1,270.87 an ounce in New York, the highest intraday since Nov. 10 last year, and broke through the 200-day moving price average, indicating upward momentum.
• Bullion later pared gains as traders looked past the geopolitical situation and the flight to quality eased.
Reference: Bloomberg,Kitco
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