Gold prices fell on Friday at the end of the week’s trading, registering a weekly loss, amid the rise in the dollar and fears of the trade war between the United States and China, after reports indicating that Beijing was considering exempting some American goods from customs duties.
The global gold prices were at the end of Friday’s trading a remarkable decline, influenced by the low demand for safe assets, with the improvement of the appetite for risk in the markets.
The instant price reached $ 3318.95 an ounce, down from $ 3348.88 the day before, reflecting a decline of approximately 0.9%.
As for the golden futures for April 2025, it was closed at $ 3282.4 an ounce, a decrease of $ 59.80 or 1.79% from the previous session.
The impressive factors
This decline in gold prices comes after record increases in the past weeks, as gold recorded historical levels of $ 3500 an ounce in last Tuesday’s trading.
The recent decline is due to the decline in geopolitical and economic fears, which prompted investors to reduce their possession of gold as a safe haven.
Daniel Ghali, a commodity strategy expert at TD CIA, said in a statement carried by Reuters. He added: “We believe that the buyers who took advantage of the declines in the past sessions may support the return of gold to its upward path.”
According to reports, the Chinese authorities sent notifications to some companies asking them to identify American goods that can be exempted from the 125%fees, in an additional indication of calming trade tensions. US President Donald Trump has hinted this week into direct talks with China.
Despite the current decline, gold remains high by more than 25% since the beginning of 2025, supported by strong demand from central banks and geopolitical and economic fears, after earlier this month reached a record level of $ 3500 an ounce.
Other precious metals performance:
- Silver fell 1.1% to $ 33.21 an ounce, but it tends to record weekly gains for the third week in a row.
- Platinum fell 0.5% to 965.75 dollars an ounce.
- Palladium decreased by 1.5% to $ 939.82 an ounce.
The rise of the dollar
On the other hand, at the end of Friday’s dealings, the dollar recorded a remarkable increase, achieving its first weekly gains since mid -March.
The dollar index- which measures the performance of the US currency against 6 other currencies- increased by 0.3% to 99.62, after it had decreased earlier in the week to its lowest level since March 2022 at 97.92.
