Gold price rises as trade war tensions remain elevated

• Gold gains as traders react to President Trump’s threat of new reciprocal tariffs, enhancing its safe-haven status.
• US Nonfarm Payrolls fall short of expectations, yet a declining Unemployment Rate suggests a resilient labor market.
• PBoC’s increased Gold reserves and cautious comments from Fed officials contribute to the metal’s price dynamics.

Gold resumed its uptrend on Friday amid the escalation of the trade war between the US and China and a mixed US employment report. The XAU/USD trades at $2,862, up 0.24%.

US President Donald Trump’s plans to announce reciprocal tariffs on many countries next week lent a lifeline to Bullion traders as the yellow metal rose on those remarks. Therefore, tensions over the weekend could increase flows to Gold’s safe-haven appeal.