Gold prices rose on Friday and were headed for a weekly gain, supported by a weaker dollar and lingering geopolitical tensions, while focus remained on U.S.-China trade talks due this weekend.
Spot gold was up 0.7% to $3,326.99 an ounce U.S. The metal has gained 2.5% so far this week. U.S. gold futures were up 0.7% to $3,328.10.
The dollar index slipped 0.3%, making gold more attractive for holders of other currencies.
U.S. and Chinese officials will meet in Switzerland over the weekend, in a possible first step in dialing down the damaging trade war between the world’s two biggest economies.
Gold, used as a safe store of value during times of political and financial uncertainty, scaled an all-time high of $3,500.05 per ounce last month, boosted by central bank buying, tariff war fears and strong investment demand.
