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.
"Investors are worried about the trade war and that has helped the dollar. But the dollar will not be as strong as it has been going forward and that should help gold prices to go up," said Ji Ming, chief analyst at Shandong Gold Group.
PREMIUM FUTURE CALL: BUY ARVIND ABOVE 414 TARGET 416 / 418.50 / 422 STOPLOSS 411.50
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