Gold bars
Gold prices rose on Friday, supported by a weaker US dollar and continued economic and geopolitical uncertainty, though the precious metal still ended the week with a loss amid market volatility. 
August gold futures leapt 0.40% (or $13) to $3,358.30 per ounce, trimming their weekly loss to 0.17%.
It was buoyed by a 0.25% decline in the US dollar index — which measures the greenback against six major currencies — to 98 points as of 9:53 pm Makkah time.
“Concerns around growth in US debt and further tariff updates are likely to keep gold in focus, and for now the floor looks well supported,” said Suki Cooper, Precious Metals Analyst, Global Research at Standard Chartered Bank.
Gold demand spiked earlier in the week following media reports that US President Donald Trump was planning to fire Federal Reserve Chairman Jerome Powell.
Although Trump later denied the reports, the concerns didn’t fully subside, especially as he continued his public criticism of Powell.
Meanwhile, a monthly survey by the University of Michigan showed a slight improvement in US consumer sentiment in July, along with a decline in inflation expectations over both the next 12 months and the long term — returning to levels seen before Trump’s announcement of a sweeping tariff package.
Gold bars
Gold prices rose on Friday, supported by a weaker US dollar and continued economic and geopolitical uncertainty, though the precious metal still ended the week with a loss amid market volatility.
August gold futures leapt 0.40% (or $13) to $3,358.30 per ounce, trimming their weekly loss to 0.17%.
It was buoyed by a 0.25% decline in the US dollar index — which measures the greenback against six major currencies — to 98 points as of 9:53 pm Makkah time.
“Concerns around growth in US debt and further tariff updates are likely to keep gold in focus, and for now the floor looks well supported,” said Suki Cooper, Precious Metals Analyst, Global Research at Standard Chartered Bank.
Gold demand spiked earlier in the week following media reports that US President Donald Trump was planning to fire Federal Reserve Chairman Jerome Powell.
Although Trump later denied the reports, the concerns didn’t fully subside, especially as he continued his public criticism of Powell.
Meanwhile, a monthly survey by the University of Michigan showed a slight improvement in US consumer sentiment in July, along with a decline in inflation expectations over both the next 12 months and the long term — returning to levels seen before Trump’s announcement of a sweeping tariff package.
