Gold lost 0.9 percent to USD 1,309.42 an ounce. Prices reached USD 1,308.18, the lowest since August 9. Silver slipped 1.2 percent to USD 21.54 an ounce, after falling to USD 21.53, the lowest level since August 14. Prices are down 9.7 percent this week, the most since April.
       
Gold slid 5.8 percent this week, the most since June 21, as the threat of an imminent US attack on Syria eased. Russia is seeking an agreement that would make military action unnecessary, Foreign Minister Sergei Lavrov said before a meeting in Geneva with US Secretary of State John Kerry.
    
Bullion fell 22 percent this year as some investors lost faith in the metal as a store of value and on speculation the Fed will curb stimulus. Goldman Sachs said there is a risk gold may drop below USD 1,000 an ounce, a level last reached in 2009. 
    
Holdings in gold-backed exchange-traded products fell 0.5 tonnes on Thursday to 1,947.8 tonnes, near the three-year low set August 8.

 (Agencies) 

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