Gold prices climbed on Friday, as investors awaited more clarity on global uncertainties including trade and Brexit, helping the metal shake off initial declines driven by hopes for a breakthrough in the U.S.-China talks.
Spot gold inched 0.3% higher to $1,499.15 U.S. per ounce, but slipped about 0.3% in the week. U.S. gold futures rose 0.1% to $1,502.30.
Equity markets gained after U.S. President Donald Trump said he would meet with China’s top trade negotiator, while a White House official said the first day of talks had gone "probably better than expected."
While the two sides could reach some sort of agreements on aspects such as currencies and copyright protections, they were not expected to address the most contentious issues.
The dollar, which has emerged as an alternative safe-haven during the trade war, was a shade weaker versus its rivals, helping drive gold prices higher.
Palladium, meanwhile, gained 0.2% to $1,703.44 U.S. an ounce and held close to Thursday’s all-time peak of $1,704.59, putting it on track for an about 2% weekly gain.
The autocatalyst metal was also set to climb for a fourth straight session.
In other metals, platinum rose 0.4% to $903.24 U.S. an ounce, while silver rose 1% to $17.66.
