Gold steady as weaker dollar offsets increased risk appetite

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in Sino-U.S. trade negotiations, while palladium scaled a fresh peak.

Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week.

U.S. gold futures were down 0.1% at $1,471.60.

Sources said on Thursday U.S. negotiators were offering to cut existing tariffs on Chinese goods by as much as 50% and suspend the new tariffs scheduled to go into effect on Sunday in an attempt to secure a "Phase 1" deal first promised in October.

"The market remains cautious ... Until we see little bit more data around what has been agreed to, investors aren't going to take any aggressive positioning in the gold market," ANZ analyst Daniel Hynes said.

"Gold has been driven by other issues, including central bank easing and low inflation, and that is helping support underlying investors appetite despite headwinds in the shorter term," he said.

U.S. stocks surged to record highs, while Asian equities rose to an eight-month peak, making safe-haven risk-off assets such as gold less appealing.

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Gold gains on simmering U.S.-China spat

Gold prices rose on Monday as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut.

Spot gold edged up 0.2% to $1,286.89 per ounce as of 0129 GMT, rising for a third session in a row.

U.S. gold futures also gained 0.2%, to $1,285.50 an ounce.

"Gold has really reversed earlier losses as risk appetite in the market remains rather shaky," said Benjamin Lu, an analyst with Singapore-based Phillip Futures.

"U.S. sanctions on Huawei and even the rest of the Chinese technology firms have really aggravated trade tensions."

China on Friday denounced U.S. Secretary of State Mike Pompeo for fabricating rumours after he said the chief executive of China's Huawei Technologies Co Ltd was lying about his company's ties to the Beijing government.

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Gold gains as Trump`s tariff threat unnerves global markets

Gold prices climbed on Monday after U.S. President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-U.S. trade tensions, which prompted risk-off sentiment and boosted safe-haven assets.

Spot gold was up 0.3 percent at $1,282.51 per ounce, as of 0557 GMT. U.S. gold futures were up 0.2 percent at $1,284 an ounce.

"We have seen a bit of a risk-averse move this morning in Asian trading following the comments from Trump over the weekend regarding the U.S.-China trade deal," ANZ analyst Daniel Hynes said.

"Certainly that has induced some safe-haven buying in gold and has jolted the (gold) market back into action."

United States President Donald Trump on Sunday announced he would hike tariffs on $200 billion worth of Chinese goods this week. He also said he would target a further $325 billion of Chinese goods with 25 percent tariffs "shortly".

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Gold steadies as strong equities counter support from U.S.-Iran jitters

Gold prices steadied on Tuesday as strong equities provided a risk-conducive backdrop for investors, countering support from geopolitical concerns as Washington ends sanctions waivers on Iranian oil.

Spot gold was nearly unchanged at $1,275.10 per ounce as of 0319 GMT. U.S. gold futures were also steady at $1,277.20 an ounce.

"Gold is currently trying to find a short-term bottom around $1,274-1,275 an ounce level, especially as equity markets continue to rally," said Margaret Yang, an analyst with CMC Markets in Singapore.

Asian shares hover near a nine-month peak touched last week while stocks on Wall Street were near break-even on Monday as the benchmark S&P 500 index was about 1 percent away from the record high hit in September.

Strong equities of late have wiped off much of gold's appeal, with the metal now more than 5 percent below its 2019 peak touched in February.

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