Bengaluru — Gold prices steadied on Friday below a one-month high hit in the previous session, and were on track for a second straight weekly gain amid concern about the US-China trade dispute. Spot gold was steady at $1,301.34 an ounce at 4.05am GMT, after reaching its highest since May 15 at $1,309.30 an ounce on Thursday. US gold futures for August delivery were 0.3% lower at $1,304.70/oz. "We saw a little bit of selling early this morning, a little bit of profit-taking…. Gold was unable to hold above this (previous days highs), so again we are sitting back in sort of that $1,290-$1,305 range," said MKS senior precious metals dealer Alex Thorndike. Investors were keeping a close tab on trade tension between the world’s top two economies, he said, and if the US imposed tariffs on Chinese goods, gold could test the overnight highs of $1,309-$1,310. US President Donald Trump had made up his mind to impose "pretty significant" tariffs on Chinese goods, an administration official said...
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