Gold rose above $2,920 per ounce on Thursday, near record highs, supported by a weaker US dollar and safe-haven demand amid US trade policy uncertainties.
President Donald Trump temporarily exempted US automakers from his 25% tariffs on Canada and Mexico for one month and signaled openness to further adjustments.
A US official also suggested Trump may remove the 10% tariff on Canadian energy imports that meet trade agreement rules.
However, fresh US tariffs on Canada, Mexico, and China have triggered retaliatory measures, and China has filed a revised WTO consultation request over the levies.
Meanwhile, markets await the non-farm payrolls report for clues on the Federal Reserve's policy direction. Recent data revealed US private sector job growth slowed to a seven-month low, fueling the case for further rate cuts. However, an unexpected rebound in the services sector suggests economic resilience.
Source: Trading Economics
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