Gold posted solid gains in early trading on Friday, approaching $3000 an ounce, amid uncertainty over U.S. tariffs and escalating trade tensions, as well as rising expectations that the Federal Reserve may consider tapering monetary policy.
At 01:32 UTC, the price of gold in spot trading fell 0,1% to $2983,78 an ounce, after hitting a record high of $2993,53 earlier in the session, bringing it closer to the psychological threshold of $3000.
Gold is on track to post weekly gains for the second consecutive week, rising 2,5% so far. U.S. gold futures rose 0,2% to $2996,70 an ounce, according to Reuters data.
In other precious metals, silver fell 0,2% in spot trading to $33,72 an ounce, while platinum rose 0,1% to $995,30, and palladium recorded gains of 0,7% to $964,32.
