Gold fell more than 1.5% on Friday as investors opted for riskier assets after news of U.S. President Donald Trump's plans to restart the U.S. economy and promising early data related to a potential COVID-19 treatment.

Spot gold was down 1.4% at $1,693.20 an ounce by 09:12 GMT, having this week scaled a seven-year peak on heightened worries over the worst recession in decades.

U.S. gold futures fell 1.3% to $1,708.70, narrowing their lead over London spot prices, signalling hopes for an improvement in strained supply chain logistics that have hampered bullion shipments to the United States to meet contract requirements.

In other precious metals, palladium rose 1.1% to $2,176.35 an ounce, silver dipped 2.6% to $15.21 and platinum was down 1.5% at $771.81.

Source : Reuters