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Gold Prices Firm Up On Growth Concerns

Gold prices rose slightly on Friday to hover near three-week highs reached the previous day as worries over economic growth and trade uncertainty weighed on investors' risk appetite.

Spot gold edged up 0.3 percent to $1,312.85 per ounce after hitting its highest level since February 28 at $1,320.22 intraday on Thursday. U.S. gold futures were up 0.4 percent at $1,312.35 per ounce.

Asian stocks fell broadly today as U.S.-China trade uncertainty lingered ahead of another round of high-level talks resuming in Beijing next week.

Divisions over tariffs remain, with U.S. President Donald Trump saying on Wednesday the United States would leave tariffs on Chinese products in place even if the two sides reach an agreement. In stark contrast, China wants an immediate end to all tariffs.

European markets are also moving lower amid growth worries as the composite PMI for the euro zone declined from 51.9 to 51.3 in March, giving little hope of recovery in the first quarter.

On the Brexit front, EU leaders have agreed on a plan to delay the Article 50 process for another two weeks until April 12.

Prime Minister Theresa May will have an extra two months until May 22 if she builds support for pushing her withdrawal deal through Parliament.

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