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Gold holds steady amid trade worries, but heads for weekly fall


Friday, 8 February 2019 08:55 WIB

GOLDEMAS


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Gold held steady on Friday on worries that a protracted Sino-U.S. trade war could worsen global economic slowdown, but a strong dollar put bullion on track for its first weekly loss in three.

Spot gold was steady at $1,309.6 per ounce at 0050 GMT. Prices hit their lowest since Jan. 29 at $1,302.11 on Thursday, but ended the session up 0.3 percent. The metal was down 0.6 percent for this week.

U.S. gold futures were also firm at $1,313.40.

U.S. President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal. The two countries had taken a 90-day hiatus in their trade war to work out a deal.

Source: reuters


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