Gold prices fell on Friday due to weak demand in Asia, though escalating tensions in Ukraine brought the yellow metal off session lows.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,304.70 a troy ounce during U.S. trading, down 0.84%, up from a session low of $1,293.80 and off a high of $1,316.40.

The December contract settled up 0.09% at $1,315.70 on Thursday.

Futures were likely to find support at $1,283.30 a troy ounce, the low from Aug. 5, and resistance at $1,321.80, Thursday's high.

Gold prices fell on Friday as soft demand for spot gold in India and China offset news of fresh military conflicts in Ukraine.

Gold has served as a hedge to geopolitical pressures in recent sessions, though weak Asian demand kept the precious metal in negative territory despite soft data in the U.S., which normally supports the asset.

The preliminary Thomson Reuters/University of Michigan consumer sentiment index ticked down to a nine-month low of 79.2 in August from 81.8 in July. Analysts had expected the index to rise to 82.5 this month.

Separately, the New York Federal Reserve said that its Empire State manufacturing index fell to a four-month low of 14.69 this month, from a reading of 25.60 in July, worse than expectations for a decline to 20.0.

Data also showed that U.S. producer price inflation rose 0.1% on year last month, in line with expectations, after a 0.4% increase in June.

Core producer price inflation, which excludes food, energy and trade, rose 0.2% in July, in line with market projections, and after a 0.2% gain the previous month.

A separate report showed that U.S. industrial production rose 0.4% in July, beating expectations for a 0.3% gain.

Meanwhile, silver for September delivery was down 1.89% at $19.530 a troy ounce, while copper futures for September delivery were up 0.49% at $3.106 a pound.

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