Gold edges higher on US-China tensions
US gold futures rise but metal is heading for a 0.8% weekly decline
22 May 2020 - 07:26
Bengaluru — Gold steadied on Friday as an escalation in US-China tensions underpinned bullion’s safe-haven appeal, though positive economic data and easing lockdowns in some countries set up the precious metal for a weekly drop.
Spot gold was trading at $1,727.39/oz by 2.48am GMT, having dropped 1.4% on Thursday. US gold futures rose 0.3% to $1,726.50/oz. Bullion had rallied to its highest since October 2012 on Monday, but has since lost ground and is now heading for a 0.8% weekly decline...
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