Gold prices edged higher on Friday, but was still on track to post its biggest weekly decline in about two months as solid Chinese data and a preliminary U.S.-China trade deal improved risk appetite.
World shares hit record highs after data showed China's economy was stabilizing and the world's second-largest economy ended 2019 on a somewhat firmer note as the trade truce revived business confidence.
Spot gold rose 0.3% to $1,556.56 per ounce, but was heading for a weekly drop of about 0.4%...
Gold futures settled higher on Friday, but barely budged for the week. "Gold has struggled to shine this week as positive economic data from the United States and China cooled concerns over the global economy," said Lukman Otunuga, senior research analyst at FXTM. "Appetite towards the metal was also bruised by the 'phase one' [U.S.-China] deal, which offered some light at the end of the long trade war tunnel. With stock markets hitting record h