Gold is back hovering around the $1,500 mark after the metal was buffeted Thursday by conflicting signals on trade talks and comments from Federal Reserve officials. Palladium hit a fresh all-time high.
Spot gold advanced 0.3% to $1,498.58/oz by 09:50am in London after dropping 0.8% Thursday; pared weekly loss to 0.4%. Spot palladium little changed after hitting fresh record $1,706.50 earlier Friday; heads for 2.1% gain this week. Silver and platinum also gain, with platinum heading to a 2.6% weekly advance, most since August.
Palladium and platinum, both used in the auto sector, are heading for weekly gains after President Donald Trump said the first day of high-level negotiations with China went “very well.”
Source : Bloomberg