Gold takes heart from renewed trade tension
Renewed US-China trade tensions and prospects of a US Federal Reserve rate cut lift price of metal
Bengaluru — Gold prices rose on Friday and were on track to post a weekly gain, consolidating above $1,400/oz as renewed Sino-US trade tensions amid global growth jitters and prospects of an interest rate cut by the US Federal Reserve stoked safe-haven demand.
Spot gold was up 0.3% at $1,407.69/oz as of 4.26am GMT. Gold has risen nearly 0.6% so far this week.