Gold traded slightly higher on Friday and aimed at its biggest monthly gain in over three years as concerns about a slowdown in global growth and hopes for rate cuts by central banks worldwide boosted safe-haven bids.
Spot gold had gained 0.2% to $1,530.60 U.S. per ounce early Friday morning and was set for a more than 8% gain for the month, its biggest since June 2016.
U.S. gold futures picked up 0.3% at $1,540.80.
Gold slipped as much as 0.4% earlier in the session after a near 1% drop in the previous session, as positive developments around the Sino-U.S. trade negotiations rekindled investor appetite for riskier assets.
Spot silver gained 0.8% to $18.39 U.S. per ounce, after matching a high last seen in April 2017 on Thursday. It was set to post its biggest monthly gain since June 2016.
Platinum rose 1% to $925 an ounce, after achieving its highest since April 2018 in the previous session. It was up over 7% so far this month, on the way to its biggest monthly gain since January 2018.
Palladium gained 0.9% to $1,487.15 U.S. per ounce, but appeared ready for a second straight monthly decline.
