Investing.com– Gold prices rose slightly in Asian trade on Friday and were headed for some weekly gains as heightened uncertainty over U.S. interest rates and trade tariffs fueled increased safe haven demand.
But strength in the dollar, ahead of a key labor market report due later in the day, limited any major upside in gold, as did hawkish signals from the Federal Reserve.Â
rose 0.1% to $2,672.12 an ounce, while expiring in February rose 0.2% to $2,695.74 an ounce by 23:58 ET (04:58 GMT).Â
Gold heads for weekly gains as rate, trade jitters spur some haven demand
Spot prices were trading up about 1.5% this week, as increased economic uncertainty spurred some safe haven demand for the yellow metal.
Markets were on edge ahead of data for December, due later on Friday, which is likely to factor into the outlook for U.S. rates.Â
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