Safe-haven gold prices scaled an all-time record peak Friday and was poised to post a fourth straight weekly gain as geopolitical risks and economic concerns surrounding China attracted robust demand.Spot gold was up 0.9% at $2,394.87 per ounce as of 0934 GMT after hitting a record high of $2,400.35 earlier in the session. Prices were up nearly 3% for the week.
Oil rose 2% Friday and was set for a small weekly gain, as tension in the Middle East raised the risk of supply disruptions and offset the potentially bearish impact of reduced expectations for U.S. interest rate cuts this year. Meanwhile, Vietnam's central bank said it will increase gold bar supplies to stablise the market, while China's central bank added more gold to its reserves in March.Investors also kept a tab on data that showed China's March exports and imports shrank, highlighting the tough task facing policymakers as they try to bolster a shaky economic recovery.
Gold Prices All-Time High Geopolitical Risks Economic Concerns China Safe-Haven Assets
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