Gold prices remained stable in Asian trading on Friday, poised for a nearly 2% weekly gain as the U.S. dollar hovered near a four-month low. Investors remained cautious ahead of a key U.S. employment report that could influence Federal Reserve policy.
Spot Gold held at $2,913.57 per ounce, while April Gold Futures inched up 0.1% to $2,920.55. The weaker dollar made gold more attractive to investors, supporting prices.
Trade tensions continued to fuel uncertainty after President Trump initially imposed 25% tariffs on Canadian and Mexican goods, later delaying them under the USMCA agreement. The move added market volatility, boosting demand for safe-haven assets like gold.
Meanwhile, traders awaited U.S. payroll data for insights into the Fed’s interest rate outlook, especially amid persistent inflation concerns.
Other precious metals were subdued. Platinum Futures remained flat at $982.1, while Silver Futures slipped 0.4% to $33.198.
Copper prices, which had hit a three-week high, pulled back as weak Chinese trade data dampened sentiment. London Copper Futures dropped 0.7% to $9,639.25 per ton, while April Copper Futures held slightly higher at $4.7875 per pound.
Markets watched for potential Chinese stimulus measures amid slowing exports and imports. Recent comments from Trump about 25% tariffs on copper imports further weighed on sentiment, raising concerns about global supply chains.
With ongoing trade policy shifts and economic uncertainty, gold remained a key safe-haven asset, while investors looked for further cues from upcoming economic data and potential stimulus measures in China.


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