Futures prices for gold in the USA decreased by 0.5% to 2942 dollars per ounce. The price of gold in the international market fell by 0.4% to 2927.89 dollars per ounce. Over the past week, the precious metal rose by more than one percent and reached a historic maximum of 2954.69 dollars on Thursday.
Usually, gold is considered a hedge during periods of risk. Gold prices fell on Friday from a relatively record level established at the previous session, but are heading for an increase in the eighth consecutive week, thanks to demand for safe assets amid risks from U.S. President Donald Trump's increased tariffs, which could exacerbate trade wars and intensify inflation.
