Gold prices edged lower on Friday, putting the precious metal on course for its steepest weekly loss in six months, as a firmer U.S. dollar and a de-escalation in U.S.-China trade tensions eroded its appeal as a safe-haven asset.
Spot gold slipped 0.1% to $3,235.59 per ounce as of 00:27 GMT, extending its weekly decline to more than 2% — its worst performance since November, according to news agencies.
Meanwhile, U.S. gold futures managed to gain 0.4% to settle at $3,239.20 per ounce.
The U.S. dollar has advanced 0.4% this week, marking its fourth straight weekly gain. A stronger greenback typically makes dollar-denominated gold more expensive for foreign investors, dampening demand.
Investor appetite for safe-haven assets weakened further after the United States and China agreed earlier in the week to temporarily roll back some of their reciprocal tariffs—an encouraging sign for global trade and economic stability.
Among other precious metals, spot silver dipped 0.2% to $32.61 per ounce, platinum rose 0.3% to $992.55, while palladium dropped 0.7% to $961.50.
