Metal for immediate delivery traded 0.5 pct lower at $1,274.20 an oz. as of 10:48 a.m. New York time. A close at that level will be the lowest since Nov. 3.
Benchmark spot gold edged higher to around $1,277 an ounce Friday, but was still trading near a 3-1/2-week low touched Thursday amid surge in U.S. equities.
The Canadian precious metals producer announced a financing plan consisting of a $10-million bought deal private placement offering of four million flow-through common shares.