The metal loses ground as the dollar gains against the yen amid developments in the US-China trade dispute
but was trading above the 10-week low touched in the previous session, as the dollar rose against the yen on signs of progress in the US-China trade dispute and strong US economic data.Spot gold slipped 0.3% to $1,288.18/oz by 0353 GMT, after touching its lowest since January 25 at $1,280.59/oz in the previous session. The metal was down about 0.3% so far this week.
Asian share markets consolidated their weekly gains as Sino-US talks produced a lot of headlines but no conclusions. Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell for a fourth consecutive session on Thursday. Holdings were at their lowest level since December 10 at 24.52-million ounces.
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