Gold prices slipped on Friday as fears of financial meltdown receded, but analysts say investors expecting only a brief respite from the maelstrom will carry on piling into the precious metal. Traders said short-term investors selling their holdings ahead of a U.S. holiday on Monday weighed on gold. Firmer equities and news that the United States was working on a program to subsidize mortgages for homeowners before they fall into loan arrears also hit gold market sentiment. Rising hopes of financial stability prompted a bout of profit-taking which took spot gold to a session low of $931.40 an ounce. Bullion was at $937.80 an ounce at 2:02 p.m. EST (1902 GMT), down 0.8 percent from the last trade $945.05 late in New York on Thursday.

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