Gold prices fell on Friday as investors booked profits from the previous session's record high, but were set for an eighth straight weekly gain, boosted by strong safe-haven demand amid concerns over U.S. President Donald Trump's tariff plans. Spot gold fell 0.1% to $2,935.75 an ounce. Bullion is up about 1.7% this week after rising to a record $2,954.69 on Thursday. U.S. gold futures fell 0.2% to $2,950.30. "It's just a classic move of new record highs and profit-taking… (but) the fundamentals of gold remain solid," said Alex Ebkarian, chief operating officer at Allegiance Gold. Gold...
Gold touches all-time high of $2,954 amid trade policy uncertainty.Trump expands tariffs to lumber and soft commodities, adding market jitters.US data mixed: Manufacturing PMI improves, but Services PMI contracts.Gold price slides late on Friday, poised to end the week positively, accumulating eight straight weeks of gains that pushed the yellow metal to all-time highs of $2,954. At the time of writing, the XAU/USD trades at $2,940, down 0.15%. The financial markets' narrative has not changed as US President Donald Trump continues with rhetoric related to tariffs. In addition to imposing...
Gold traded just shy of last week's all-time high as unexpectedly weak economic data and rising expectations for inflation helped boost haven demand. Bullion was around $2,937 an ounce, after notching its eighth weekly gain — the longest run since 2020. Gains have been supported by a sharp increase in demand for bullion-backed exchange-traded funds, with holdings last week jumping the most since 2022. Reports on Friday showed US business activity slowed, consumer confidence waned and expectations for inflation surged. The Federal Reserve's Chicago President Austan...