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Gold prices rose about 1% on Friday after US President Donald Trump's new coup in the year-long trade dispute with China, which has increased demand for metal yellow as a safe haven. Spot gold prices rose 1.1% to $ 1,048.40 an ounce. The metal has gained about 1% since the beginning of the week and is heading towards its third weekly gain in four weeks.
Gold futures in US futures rose 1% to $ 1446.10 an ounce, and gold surged more than 2% on Thursday.
In the currency markets, the US threat to impose new tariffs on imports from China has resulted in a rise in the yen hut to a five-week high against the dollar and a two-year high and half against the pound sterling. The yen rose 0.4% to 106.95 yen for the dollar. The Japanese currency jumped to 106.86 yen to one dollar in Asian trade, its highest level since June 25. (Agencies)
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