Gold headed for the longest run of weekly declines in eight months amid speculation the U.S. and China are nearing a trade deal and as data eased concern over slowing global growth, hurting demand for havens.
Officials are scheduling more face-to-face talks in an effort to reach an agreement by early May that Donald Trump and Xi Jinping could sign later that month, two people familiar with the plans said. On Wednesday, China reportedbetter-than-expected first-quarter growth and March industrial production.
Spot gold as much as -0.2% to $1,271.68/oz, lowest since Dec. 27, and trades at $1,272.08 at 7:02am in London.
Source : Bloomberg