Gold logs weekly gain, shrugs off firm dollar

Gold prices rose today on fears about the US-China trade talks, an notched a weekly gain at the close of the session.

After President Trump stated that his administration has removed the tariffs on 400 of Chinese imports, several news agencies reported that the Chinese delegation had canceled its visit to Montana, which raised concerns about the collapsing of this round of talks.

President Trump also said in a press conference that China is making progress in the trade talks file with the US.

As of 19:23 GMT, the dollar index rose by 0.3% to 98.5 points, with a high of 98.6 and a low of 98.2.

Gold futures (December delivery) rose by 0.6% to $1,515.1 an ounce, and posted weekly gains of 1%, with an intraday high of $1,521.8 and a low of $1,505.3.