Gold prices jumped on Friday, settling with a sharp gain as the threat of a global trade war pushed stocks and the dollar lower, underpinning a flight to the perceived safety for assets such as precious metals. April gold finished up $18.20, or 1.4%, at $1,323.40 an ounce, but the metal ended with a weekly decline of about 0.5% based on last Friday’s settlement. Friday’s climb also helped gold futures halt a three-session decline. The yellow metal traded came amid a rout in the Dow Jones Industrial Average and the S&P 500 index , which have been rattled by the threat of a global trade war, which could result in higher prices and inflation. That is a scenario that may be beneficial for gold. Meanwhile, the U.S. dollar, as measured by the ICE U.S. Dollar Index was off 0.3% at 90.01. A weaker buck can make dollar-priced gold more appealing those buying using other currencies.
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