Gold price slips

Bengaluru-India (Mar 11)  Gold prices extended losses into a third session, as the dollar strengthened against the yen on hopes of easing tensions between the United States and North Korea and ahead of U.S. non-farm payroll data later in the day.

U.S. President Donald Trump said on Thursday he was prepared to meet North Korean leader Kim Jong Un for the first U.S.-North Korea summit, marking a potentially dramatic breakthrough in nuclear tensions with Pyongyang. "We are seeing reactions to the Trump-Kim Jong Un´s potential for a discussion prompting a risk-on trade and that is putting some pressure on safe haven assets," said a Hong Kong based trader. Spot gold was down 0.3 percent at $1,317.41 per ounce at 0405 GMT and was on track to post its third weekly decline.

U.S. gold futures were down 0.3 percent at $1,318.1. Against the yen, the dollar rose 0.4 percent to 106.66 yen , inching away from a low of 105.24 yen on March 2, the greenback´s weakest level since November 2016.

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