Gold falls from record, slips below $1,050

Gold fell below $1,050 an ounce on Friday as the dollar edged up, snapping a rally that took prices of the precious metal to all-time highs for three consecutive days. Gold price once reached at $1,060 per ounce during trading in New York. However, profit-taking caused downfall in the Asian trading. Gold price reduced to $1,048 per ounce with a decrease of 7 dollars and 50 cents. Experts say market may continue upward trend due to dollar’s volatile value.