2018.05.2501:35:00UTC+00Gold Prices Hold Above $1,300 on Safe-Haven Demand

Gold prices eased on Friday on profit-taking, after breaking above $1,300 in the previous session when U.S. President Donald Trump's decision to call off a meeting with North Korean leader Kim Jong Un fuelled safe-haven buying.

Spot gold fell 0.2 percent to $1,302.18 per ounce, after rising almost one percent in the previous session in its largest one-day percentage gain since April 11. The precious metal remains on track for a weekly gain.

U.S. gold futures for June delivery dropped 0.2 percent to $1,301.80 per ounce.

Trump's threat to impose tariffs on auto imports drew strong criticism abroad and at home where U.S. business groups and members of his own Republican Party warned of damage to the industry and raised the prospect of a global trade war that would harm American interests.

Nations that remain in the Iran nuclear deal meet on Friday for the first time since U.S. President Donald Trump left the pact, but diplomats see limited scope to salvage it after Washington vowed to be tougher than ever on Tehran.

Among other precious metals,silver was down 0.3 percent at $16.57 an ounce, while platinum lost 0.1 percent at $908.50 an ounce after hitting its highest since May 14 at $914.30 in the previous session.

Palladium rose by almost 0.2 percent to $976.10 per ounce. All three of those metals were poised for weekly gains.