Gold prices fell on Friday as risk appetite was increased by comments from White House economic adviser Larry Kudlow that the United States is nearing an interim trade pact with China.
Spot gold declined 0.4% to $1,465.77 U.S. per ounce, but was still set to rise more than 0.5% this week.
U.S. gold futures were down 0.5% at $1,466.30 U.S. an ounce.
Gold prices have gained more than 14% this year as the on-again, off-again trade spat has roiled financial markets and prompted fears of a global economic slowdown.
A poll of economists showed a permanent truce is unlikely over the coming year, and, while concerns have eased over a U.S. recession, an economic rebound is also not expected soon.
Among other precious metals, silver was down 0.4% to $16.95 U.S. per ounce and was en route to rise 0.9% this week, while platinum fell 0.4%, to $876.81 U.S. per ounce and was set to register a weekly decline of 0.8%.
Palladium gained 0.2% to $1,741.23 U.S. per ounce.
