Silver is set for its steepest weekly fall since October 2016, with palladium also dropping and platinum set for a 5% drop for the week
Bengaluru — Gold prices edged lower on Friday and were on track for their biggest weekly decline in two to two-and-a-half years as a stronger dollar weighed, while optimism around US-China trade talks dented bullion’s safe-haven appeal.
“Gold is down because the dollar is doing well and some people who bought gold as a safe haven are moving out,” ABN Amro analyst Georgette Boele said. “You will get some profit-taking pushing gold prices lower.” “We are trading on a lot of speculation right now and there’s no solid evidence or anything specific,” Craig Erlam, Oanda senior market analyst, said, adding that gold could move back to $1,440 if a phase one trade deal were signed in December.
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