Gold Rallies On Weak Dollar, Trade War

Gold prices rose Friday as stocks slumped on fears about a possible trade was between the US and China.

Trump indicated that he plans to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports.

"Sometime next week we'll be signing it in," Trump said. "And you're going to have protection for the first time in a long time."

Gold slipped for the first time in three days.

April gold finished up $18.20, or 1.4%, at $1,323.40 an ounce, but gold lost 0.5% based on last Friday's settlement.

Stocks slumped and the dollar weakened, boosting gold's safe haven appeal.

Traders continued to assess this week's testimony from Fed Chair Jerome Powell.

"We see wages by a couple of measures trending up a little bit, but most of them continuing to grow at two and a half percent," Powell said.

"Nothing is suggesting to me that wage inflation is at a point of accelerating," he added. "I would expect that some continued strengthening in the labor market can take place without causing inflation."

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