Gold rose on Friday as investors hedged against risks stemming from the ongoing trade dispute, with $1,200 acting as a strong support. At the same time, the bullion was headed for its longest monthly losing streak since 2013.
Spot gold was up 0.6% at $1,207.06 U.S. an ounce, after touching a near one-week low of $1,195.95 on Thursday. Prices are down 1.3% so far this month, on track for a fifth straight monthly decline.
U.S. gold futures were up 0.7% at $1,212.80 U.S. an ounce.
Negotiators from Canada and the United States made a late-night push for the North American Free Trade Agreement (NAFTA), without a deal.
Investors also braced for the next round of the U.S.-China trade conflict.
However, gold prices have declined about 7.7% so far this year amid rising U.S. interest rates, international trade disputes and the Turkish currency crisis, with investors preferring the dollar as a safe-haven.
The dollar index on Friday edged 0.1% lower to 94.669 against a basket of six major currencies.
Experts say spot gold may drop to $1,185 U.S. per ounce as it has broken a support at $1,200.
Spot silver was up 0.6% at $14.61 U.S. an ounce.
Palladium was up 1.4% at $978.62 U.S. an ounce, after touching a 10-week high at $983.75. Platinum rose 0.6% to $793.70 U.S. an ounce.
Palladium's premium over platinum hit about $185 U.S. per ounce on Thursday, the highest since March 2001.
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