Muscat: Spot gold settled at $3,289.79 per ounce on Friday, down 1.4% for the week as investor sentiment shifted amid renewed trade tensions. U.S. gold futures also slipped 0.3%, closing at $3,340.20.
The dollar index rose by 0.1%, hovering near a two-month high reached on Thursday.
The latest dip in gold comes in the wake of President Trump’s move to introduce fresh tariffs, intensifying global economic uncertainty and driving capital towards the dollar as a safe-haven asset, traditionally a rival to gold in turbulent times.
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Other precious metals showed mixed movement. Spot silver held steady at $37.10 per ounce, while platinum edged down 0.3% to $1,308.85. Palladium bucked the trend, gaining 0.9% to $1,216.25.
