WASHINGTON (dpa-AFX) - Gold prices fell on Friday but were set for an eighth week of gains amid lingering concerns over U.S. President Donald Trump's tariff threats and rising inflationary risks.
If is feared that any big policy shift by the Trump administration could push up inflation and keep interest rates elevated for longer.
Spot gold dipped half a percent to $2,924.98 per ounce in European trade while U.S. gold futures were down 0.6 percent at $2,938.09.
Bullion has added nearly 1 percent so far this week and is set for its longest weekly winning streak since mid-2020.
The dollar nursed broad losses and was set for its third weekly drop in a row despite heightened uncertainty around trade and geopolitics.
Ukrainian President Volodymyr Zelensky needs to return to the negotiating table and strike a deal on U.S. access to Ukraine's critical minerals, White House national security adviser Mike Waltz has said at a white House briefing.
Waltz also said the White House was 'very frustrated' with Zelensky after he levelled 'unacceptable' insults at President Donald Trump earlier this week.
The comments overshadowed a meeting in Kyiv between Zelensky and Keith Kellogg, the U.S. chief envoy to Ukraine.
Government bond yields were subdued after U.S. Treasury Secretary Scott Bessent said that the Trump administration had no plans to increase long-dated debt sales.
Trading later in the day may be impacted by reaction to the release of U.S. existing home sales data and a revised reading on U.S. consumer sentiment. In addition, the Fed's Jefferson is due to speak.
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