Gold prices ticked higher in Asian trade on Friday after two days of gains, but remained on track for weekly losses as investors navigated heightened U.S.-Iran tensions and awaited key U.S. inflation data.
Spot gold gained 0.4% to $5,017.85 per ounce by 01:17 ET (06:17 GMT), with U.S. Gold Futuresrising 0.8% to $5,036.5.
The yellow metal is set to fall nearly 0.6% this week, despite rising sharply mid-week on safe-haven demand.
Gold’s weekly performance reflected a pullback early in the week when optimism about U.S.-Iran diplomatic talks eased risk aversion, before geopolitical anxiety resurfaced later in the week.
Volumes were light, as Chinese markets were shut for the Lunar New Year holidays.
Spot gold gained 0.4% to $5,017.85 per ounce by 01:17 ET (06:17 GMT), with U.S. Gold Futuresrising 0.8% to $5,036.5.
The yellow metal is set to fall nearly 0.6% this week, despite rising sharply mid-week on safe-haven demand.
Gold’s weekly performance reflected a pullback early in the week when optimism about U.S.-Iran diplomatic talks eased risk aversion, before geopolitical anxiety resurfaced later in the week.
Volumes were light, as Chinese markets were shut for the Lunar New Year holidays.
