Gold price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338.
Wall Street registers losses as traders brace for the meeting between the China and US delegations in Switzerland on Saturday. Although expectations are high that the trade war sustained by both countries could de-escalate, investors remained cautious ahead of the talks.
US President Donald Trump said that "80% Tariff on China seems right! Up to Scott B," via a social media post on Friday.
Bullion prices remain high as hostilities between India and Pakistan have heightened. Both countries are accusing each other of using drones and artillery on the third day of the conflict.
The US Dollar Index (DXY), which tracks the buck's value against a basket of six currencies, hurdled the 100.00 figure and is down 0.32% at 100.31, a tailwind for the yellow metal.
A slew of Federal Reserve (Fed) officials had crossed the wires on Friday. Officials point to economic uncertainty and trade policy risks, as US tariffs are inflation-prone and complicate the central bank's job of balancing its dual mandate goals.
Source: Fxstreet
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