Gold prices turned lower on Friday, as investors chose to lock in profits from the previous metal’s climb to a two-and-a-half week high overnight as the Federal Reserve’s decision to leave interest rates unchanged continued to support.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.45% at $1,338.65.
The December contract ended Thursday’s session 1.00% higher at $1,344.70 an ounce.
Futures were likely to find support at $1,328.00, the low from September 9 and resistance at $1,345.40, the high from September 8.

Gold prices rallied after the Fed decided on Wednesday to hold interest rates and projected a less aggressive rise in interest rates next year and in 2018.
However, the U.S. central bank signaled that it could tighten monetary policy before the end of the year if the job market continued to improve.

RI GROUP NEWS