Gold futures gained Friday and for the week as President Donald Trump's increased tariffs on $200 billion in Chinese imports took effect, keeping up selling pressure on riskier global markets and benefitting haven precious metals.
The U.S. raised the import taxes on select goods from 10% to 25%, as the administration claims its Sino counterparts reneged on commitments made in earlier talks. China has threatened to retaliate to the latest U.S.-imposed tariffs, yet talks were due to resume Friday.
Gold for June delivery rose $1, or 0.1%, to $1,286.30 an ounce. The precious metal was headed for its fifth gain in six sessions, according to FactSet data, putting it on track for a weekly rise of about 0.4% based on last Friday's settlement.
Source : Marketwatch