Gold prices notched a slight gain Thursday as investors focused on intensifying friction between the U.S. and China. Continued concerns about negative interest rates and a jump in flows in exchange-traded funds focused on gold also helped to push bullion higher.
August gold ended $1.50, or 0.1%, higher at $1,728.30 an ounce. However, that finish was well off the intraday peak for bullion at $1,743.70 an ounce.
Gold futures headed higher for a second session Friday, putting gold prices on track for a modest weekly gain amid focus on U.S.-China tensions and global monetary stimulus measures.
President Donald Trump said that he was preparing to hold a Friday news conference on China but hasn't set a specific time. His planned remarks would come after the U.S., Australia, Canada and the U.K. governments issued a joint statement Thursday reiterating their "deep concern regarding Beijing's decision to...
Gold inched up on Friday and was on track for its second monthly gain as deteriorating U.S.-China ties in a world reeling from the coronavirus pandemic rattled investors and fueled demand for the safe-haven metal.
Spot gold was up 0.1% at $1,719.47 per ounce by 0342 GMT. U.S. gold futures rose 0.3% to $1,717.60.
However, the metal was down for the week, having dropped to a two-week low on Wednesday as easing lockdown measures around the world boosted hopes of an economic recovery.
The dollar was hemmed into a narrow trading range on Friday as traders™ focus shifted to U.S. President Donald Trump™s response to China™s passage of a national security law for Hong Kong.
The yuan pulled away from a record low in offshore trade, but investors remain nervous ahead of Trump™s announcement later on Friday of policy moves that could ignite a diplomatic row between Washington and Beijing.
The greenback was on course for a weekly loss against major currencies as progress...
Federal Reserve Chairman Jerome Powell said the central bank's long-awaited program to lend to small- and medium-sized businesses is about to get off the ground.
The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday.
"We're days away from making our first loans in Main Street, he said. "We...