Bengaluru: Gold prices edged up on Friday after falling nearly 1 percent in the previous session, but expectations of higher U.S. interest rates and a robust dollar amid the Sino-U.S. trade war kept a lid on the market.
Gold has lost its appeal as a safe-haven asset amid international trade disputes and the Turkish currency crisis, with investors increasingly turning to the U.S. dollar instead. Spot gold was up 0.2 percent at $1,187.06 an ounce at 0337 GMT, after falling about $10 on Thursday.
Prices have risen 0.2 percent so far this week, after dropping for six straight weeks. U.S. gold futures were down 0.1 percent at $1,192.60 an ounce.
U.S. and Chinese officials ended two days of talks on Thursday with no major breakthrough as their trade war escalated with activation of another round of tariffs on $16 billion worth of each country´s goods.
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