Gold prices settled lower on Friday as monthly increases in U.S. industrial production and consumer sentiment provided a boost to the dollar.
December gold lost $7.10, or 0.6%, to settle at $1,201.10 an ounce. The session's decline cut the metal's gain down to just 70 cents from the week ago finish.
The U.S. and China trade war will be closely looked at next week, with the Chinese economy seeing some effects from the dispute, said Karnani. Even so, “up to a certain level, slowing Chinese economic growth and slowing global economic growth will be bullish for gold investment demand as people will prefer safe havens. For Asians gold is the safe haven and not the U.S. dollar.”