Gold headed for a second weekly advance as developments in the trade war took center stage and as traders waited for the key monthly U.S. jobs data due later Friday.
President Donald Trump said that talks were “moving along well,” although a news report said that Washington and Beijing remained at odds over agricultural purchases. Investors will likely focus on any trade-related headlines in the lead up to Dec. 15, which is when the U.S. has pledged to impose tariffs on more Chinese imports if a deal isn’t struck by then.
The Labor Department’s jobs report will be watched for clues on the outlook for monetary policy after the Federal Reserve paused interest rate cuts.
Spot gold little changed at $1,476.11/oz at 10:01am in Singapore; +0.8% this week.
Source : Bloomberg