Gold fell on Friday as stocks and the dollar firmed, but fears of a slowing global economy and lack of clarity on the US-China trade war kept bullion on track for a third straight weekly gain.
Spot gold was down 0.5% at $1,514.70 per ounce as of 1:42 p.m. EDT (1751 GMT), but is up over 1% so far this week. US gold futures settled down 0.5% at $1,523.60.
Bullion has risen more than $100 since the beginning of the month amid falling global bond yields, heightened trade tensions and a slew of disappointing economic data globally. Earlier this week, 10-year Treasury yields dropped below the two-year yield for the first time in 12 years. Curve inversion is widely considered a warning that the economy is headed for recession.
US President Donald Trump said on Thursday he believed China wanted to make a trade deal and that the dispute would be fairly short...