Gold Prices Slip As Investors Embrace Risk Assets

Gold prices slipped Friday, with the safe-haven metal out of favor as so-called risk assets rallied. Gold for April delivery was down $8.20, or 0.7%, to $1,239.70 an ounce, trailing a jump in European equities and advances for U.S. stock futures. On Thursday as global equities melted down, gold futures surged by $53.20, or 4.5%, marking their largest one-day dollar and percentage gain since Sept. 19, 2013. Stocks had been hit after U.S. Federal Reserve Chairwoman Janet Yellen on Wednesday acknowledged that volatility in international financial markets and the global economy could impact the outlook for the U.S. For the week, gold prices were on track for a 7.1% rise.