Gold prices eased slightly on Friday, the dollar firmed up and equities gained ground as Giuseppe Conte returned as Prime Minister to form a new government in Italy and new signs of U.S.-China trade talks emerged.
Spot gold slid 0.1 percent to $1,525.62 per ounce after gaining nearly 8 percent so far this month on fears of slowing global growth, Brexit worries and uncertainty about the U.S.-China trade war. The contract is heading for a fourth monthly gain. U.S. gold futures were down 0.15 percent at $1,534.65 an ounce.
Trade worries eased somewhat after China said it is seeking to de-escalate the trade war with the U.S.
U.S. President Donald Trump later told Fox News the U.S. and China are scheduled to hold talks at a “different level,” although he did not clarify what that means.
Meanwhile, amid heightened recession fears, investors now await a string of economic releases due over the weekend including China’s official manufacturing survey for further direction.
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