New york: Gold rose on Friday after US President Donald Trump announced new tariffs on Canadian imports and broader tariff threats to other trading partners, but gains were capped by a stronger dollar amid mounting signs of turmoil in the global trade landscape. Spot gold rose 0.3% to $3,333.67 per ounce, while US gold futures added 0.6% to $3,345.10.
According to Qatar News Agency, the US dollar index was on track to record its best weekly performance since the week of February 24, making gold more expensive for international buyers. This factor contributed to the limited gains in gold prices as international buyers faced higher costs.
Among other metals, spot silver gained 0.4% at $37.17 per ounce. However, platinum saw a decline of 0.2% to $1,358.61, while palladium rose by 0.2% to $1,143.55.