Gold rose on Friday on concerns about a prolonged U.S. government shutdown at a time when global growth is already slowing, with markets waiting on U.S.-China trade talks due next week.
Spot gold rose 0.3% to $1,284.31 U.S. per ounce, early Friday morning while U.S. gold futures climbed 0.3% to $1,283.10 U.S. per ounce.
Investors are worried about the economic impact of the longest U.S. government shutdown in history, now in its 34th day, with two bills to end the partial shutdown failing to win enough votes in the Senate.
Moreover, the United States and China are "miles and miles" from resolving trade issues, U.S. Commerce Secretary Wilbur Ross said on Thursday.
Analysts have said concerns about a slowing global economy and hopes that the U.S. Federal Reserve will pause its multi-year rate hike cycle are supporting gold.
A synchronized global economic slowdown is under way and any escalation in the U.S.-China trade war would trigger a sharper downturn, according to the latest polls of hundreds of economists from around the world.
Among other metals, palladium, which hit a record high of $1,434.50 U.S. an ounce last week on low inventories and rising demand, was up 0.2% at $1,322.13 U.S. on Friday.
The metal registered its biggest intraday percentage decline since Dec. 21 on Thursday, falling 2% to $1,313.50 U.S., and was also heading for its first weekly fall in five, down 4% so far this week.
Silver rose 0.5% to $15.38 U.S. per ounce, while platinum gained 0.2% to $802.50.
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