Gold prices were slightly lower on Friday, a day after the yellow metal posted its largest intraday gain in 2014. RJO Futures senior market strategist Phil Streible tells TheStreet's Joe Deaux that he wasn't surprised by Friday's small pullback. Streible says most investors are waiting to see if geopolitical tensions in Iraq continue to worsen, which could support higher prices. Streible says that he doesn't think Thursday's rally suggests a fundamental upward trend, and adds that the yellow metal likely will move lower if Iraq troubles cool off, bringing back crude oil prices and other commodities.

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