PHOTO
* Silver, platinum, palladium head for weekly gains
(Updates prices)
By Apeksha Nair
BENGALURU, May 25 (Reuters) - Gold prices eased on Friday onprofit-taking, after breaking above $1,300 in the previoussession when U.S. President Donald Trump's decision to call offa meeting with North Korean leader Kim Jong Un triggeredsafe-haven buying.
Spot gold
U.S. gold futures
"It is normal for some profit-taking to ensue after a surge(in prices). Still, gold appears to be anchored in the$1,300-range, especially with the recent uptick in geopoliticaltensions," said OCBC analyst Barnabas Gan.
"The sustained uncertainty over (U.S.-North Korea)negotiations will likely add further upside to gold prices givensafe-haven demand," Gan said.
Gold is often seen as a safe investment during times ofpolitical and financial uncertainty, alongside the Japanese yen.
The dollar regained its footing on Friday after dropping toa 2-week low versus the yen in the previous session, as NorthKorea said it was open to resolving issues with the UnitedStates after Trump on Thursday called off a summit with theNorth, citing Pyongyang's "open hostility".
A stronger dollar makers dollar-denominated gold moreexpensive for holders of other currencies.
The North's conciliatory remarks and commitment toU.S.-North Korea talks had eased some concern about the crisisand pressured gold, said Helen Lau, analyst at ArgonautSecurities.
Meanwhile, Trump's threat to impose tariffs on auto importsdrew strong criticism abroad and at home where U.S. businessgroups and members of his own Republican Party warned of damageto the industry and raised the prospect of a global trade warthat would harm American interests.
Elsewhere, euro zone growth could slow further anduncertainty is on the rise but the bloc's expansion remainssolid and broad-based, European Central Bank policymakersconcluded in April, the minutes of the meeting showed onThursday.
Among other precious metals, silver
Palladium
All three of those metals were on course for weekly gains.
(Reporting by Apeksha Nair and Karen Rodrigues in BengaluruEditing by Joseph Radford and Amrutha Gayathri) ((K.Rodrigues@thomsonreuters.com; Within U.S. +1 651 848 5832,Outside U.S. +91 80 6749 9229; Reuters Messaging:K.Rodrigues.thomsonreuters.com@reuters.net))