Gold prices are getting closer to the third weekly gain

Gold prices fell on Friday, although they are heading towards the third consecutive weekly gain.

The appetite for the yellow metal as a safe haven is reinforced by concerns about the slowdown in the global economy and lack of clarity about the US-China trade war.

At 5:37 am GMT, gold in spot transactions fell 0.3% to $ 1518.60 an ounce, but has risen by about 1.5% since the beginning of this week after increasing over the previous two weeks. According to Reuters.

Futures on US gold fell 0.1% to settle at $ 1529.10 an ounce.

US President Donald Trump said Thursday that he believed that China wanted a trade deal with the United States and that the dispute with Beijing would be rather brief.

This decision was made after Beijing promised to tackle the latest US tariffs on Chinese goods worth $ 300 billion, but invited the United States to meet at half way to reach a possible trade agreement.

With trade remaining unresolved, investors are protecting themselves against a global slowdown by buying safe badets, such as gold, the Japanese yen and US Treasury bills.

Earlier this week, 10-year US Treasury yields fell below the two-year return for the first time in 12 years. The large-scale reversal of the yield curve is a sign that the economy is heading for recession.

Gold has grown 7.4% or more than $ 100 since the beginning of the month, due to rising trade tensions and a series of disappointing economic data globally.

As for other precious metals, silver fell 0.4% to $ 17.20 an ounce, but is heading toward its second consecutive weekly gain.

Platinum fell 0.3% to 836.04 dollars an ounce, while palladium rose 0.2% to 1 448.01 dollars an ounce.