Gold traded around $2,900 per ounce on Friday, heading for a weekly gain, supported by its safe-haven appeal amid shifting global trade policies.
While President Donald Trump paused the 25% tariffs imposed this week on most goods from Canada and Mexico, Canada's initial retaliatory tariffs remain, and China's measures take effect next week. Meanwhile, US jobs data painted a mixed picture, with the Challenger report showing layoffs surged to a 2020 high, while jobless claims dropped more than expected last week.
These reports precede today's non-farm payrolls release, which could offer a broader signal on labor market health and guide the Federal Reserve's policy direction.
Source: Trading Economics
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