Gold is poised for a fourth weekly gain as rising geopolitical tensions add to concerns that trade frictions may jeopardize global growth, boosting demand for a haven.

The Trump administration blamed Iran for attacks on two oil tankers near the entrance to the Persian Gulf. Separately, economic adviser Larry Kudlow warned Beijing may face consequences it if refuses an invitation from the U.S. to restart trade talks.

Investors are also awaiting next week’s Federal Reserve meeting to see if the central bank is laying the groundwork for a possible rate cut next month.

Spot gold steady at $1,342.96/oz at 9:21am in Singapore; +0.2% this week.

Source : Bloomberg