Gold prices appeared range-bound on Friday as the American dollar trod water after President Donald Trump sent mixed signals about the prospects for a trade deal with China, while palladium notched a record high.
Trump and Chinese leader Xi Jinping are expected to discuss trade on the sidelines of the G-20 summit in Argentina on Saturday, where global trade tensions are expected to dominate the agenda.
However, Trump told reporters an agreement was close but he was not sure he wanted one, just as he left for Argentina for the meeting.
Spot gold was little changed at $1,223.99 U.S. per ounce early Friday. U.S. gold futures inched lower to $1,228.70 U.S. an ounce.
The dollar index, which measures the greenback against a basket of six major currencies, was little changed on Friday.
Gold prices have lost about 10% from their April peak as investors turned to the dollar as a safe haven with the trade war unfolding against a backdrop of higher U.S. interest rates.
Minutes from the U.S. Federal Reserve's November meeting hinted that another interest rate hike is in the works. However, Fed officials also kept the debate open on when the U.S. central bank might pause its monetary tightening and mulled how to convey that to the public.
Palladium rose 0.5% to $1,186.80 U.S. per ounce, having struck a record high of $1,190 earlier in the session. The metal was poised for its biggest monthly gain since January 2017.
Spot silver fell 0.1% to $14.30 U.S. per ounce. Prices have gained about 0.5% so far this month.
Platinum dipped 1.3% to $806.74 U.S. per ounce. The metal was on track for a fourth consecutive weekly decline, after dropping around 3% so far this week.
