While U.S. President Donald Trump's plans to impose reciprocal tariffs on all countries taxing American imports fuelled fears of a global trade war, gold prices remained stable on Friday and were on the verge of a seventh hike. consecutive weekly.

US gold futures rose 0.4% to $2,956.30. The spot gold price was flat at $2,927.50 per ounce at 05:34 GMT. The gold price hit an all-time high of $2,942.70 on Tuesday. Gold has traditionally been considered a safe haven against inflation and economic uncertainty, but the attractiveness of this non-productive asset is decreasing as interest rates rise.

Spot silver gained 0.6% to $32.54 per ounce. Platinum rose 0.2% to $997.46 and palladium rose 0.2% to $996.24. All three metals are expected to rise on a weekly basis.