Gold erased all gains made earlier this week after tensions between the U.S. and Iran eased, damping demand for haven assets.

The S&P 500 Index hit a record Thursday amid signs America and Iran have stepped back from the brink of war, helping revitalize risk appetite during the second half of the week. The U.S. House of Representatives voted to limit President Donald Trump's authority to strike Tehran, a mostly symbolic move.

Investors turn their focus to U.S. jobs data due Friday after filings for unemployment benefits fell to a five-week low, adding to signs of strength. In addition, Washington and Beijing are due to sign a first-phase trade pact next week.

Spot gold -0.2% to $1,549.53/oz at 7:05am in London; -0.2% this week. Prices briefly surpassed $1,600 on Wednesday to hit the highest level in more than six years.

Source : Bloomberg