FX.co ★ Gold Poised for 5th Weekly Gain

Gold prices remained above $3,110 per ounce on Friday, set to achieve a fifth consecutive week of gains. This upward trend follows repeated all-time high performances fueled by risk aversion due to new US tariff implementations. President Trump announced a 10% baseline tariff on imports across the board and increased levies on some of the United States' significant trading partners, prompting retaliatory actions. On Thursday, gold prices dipped slightly due to profit-taking and news that precious metals were exempt from the tariffs. Nonetheless, gold's bullish trajectory persisted, buoyed by a combination of safe-haven demand, anticipation of interest rate cuts, central bank acquisitions, and robust interest in gold-backed ETFs. The market now turns its attention to the upcoming US non-farm payrolls report for more clarity on the Federal Reserve's future monetary policy actions.