Gold edges higher as dollar slips against yen on trade jitters

Gold extended gains on Friday as the dollar fell against the yen after a report suggested that U.S. President Donald Trump would next take up trade issues with Japan, while investors feared a new round of Sino-U.S. tariffs could come at any moment.

Spot gold was up 0.2 percent at $1,202.14 as of 0219 GMT, after it hit a near one-week high on Thursday at $1,206.98, and headed for a third straight session of gains.

U.S. gold futures rose 0.3 percent to $1,208.0 an ounce.

The dollar declined further against the yen following a CNBC television report on Thursday that Trump told a Wall Street Journal columnist he might take on trade issues with Japan.

"The stronger yen versus dollar is leading to some buying in gold ... The recent low of around $1,160 in August is really the bottom in gold for now," said Yuichi Ikemizu, Tokyo branch manager, ICBC Standard Bank.

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