Gold rose on Friday by the search for bargains before an expected labor report in the United States, after playing minimum of two weeks on the eve, but the relief signs of commercial tension between Washington and Beijing kept the ingot on the way to their second weekly fall.
At 1018 GMT, cash earned 0.6%, at $ 3,259.02, but accumulates a decline of 1.8% in the week. Gold futures in the United States improved 1.4%, at 3,266.90 dollars.
“The general level of appetite for the risk has improved this week due to the hope that we will see an improvement in the commercial relationship between the United States and China,” said Ole Hansen, head of raw material strategy of the saxo Bank.
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The Chinese Ministry of Commerce said that the United States has repeatedly expressed its willingness to negotiate on tariffs and that Beijing’s door is open for conversations.
The signals of possible commercial conversations raised the appetite for the risk and reduced the attractiveness of refuge assets such as gold.
The market now expects the report of non -agricultural payrolls in the United States, which will be published at 1230 GMT, to learn more clues about the possible path of the monetary policy of the Federal Reserve.
With Reuters information.
