Gold price eases

Singapore (May 12)  Gold prices fell in Asian trade on Friday as the dollar firmed slightly, with investors mostly brushing off a potential broadening of conflict in the Middle East.

Spot gold eased 0.2 percent to $1,318.85 per ounce at 0553 GMT, after rising to the highest since end-April at $1,322.76 in the previous session. The metal was, however, still on track to register a first weekly rise in four.

U.S. gold futures for June delivery were nearly 0.2 percent lower at $1,319.10 per ounce. "I think geopolitical concerns (with respect to recent attacks on Syria) are still a concern but investors aren´t paying significant attention to these," said Naeem Aslam, chief markets analyst, Think Markets.

"The dollar story is more prominent." Israel said it attacked nearly all of Iran´s military infrastructure in Syria on Thursday, after Iranian forces fired rockets at Israeli-held territory for the first time in the most extensive military exchange ever between the two adversaries.

TheNews