Investing.com – Gold prices were hovering near 2-week lows on Friday, but losses could be limited as fresh U.S. political woes weighed on the dollar and as fears of potential trade wars lingered.
Comex were little changed at $1,317.9 a troy ounce by 03:20 a.m. ET (07:20 GMT), just off a two-week trough of $1,313.7.
The greenback weakened after the Washington Post reported on Thursday that U.S. President Donald Trump has decided to , H.R. McMaster.
Markets were already jittery following the President’s decision on Tuesday .
Adding to concerns over U.S. politics, fears of potential trade wars were reignited after Donald Trump announced plans this week on up to $60 billion of Chinese imports, specifically targeting the technology and telecommunications sectors.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 90.01, off a one-week high of 90.17 hit overnight.
Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency.
Elsewhere on the Comex, were almost unchanged at $16.43 a troy ounce.
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Source: Investing.com
