Gold recovered slightly towards the end of the week after recording a sharp decline since Tuesday, with investors expected to book some profits ahead of the release of the September US inflation report while assessing President Donald Trump's change in trade rhetoric on China.
At 9.40 am, gold prices were at $4,125, stable since it opened early Friday in Asian trading.
The market mood calmed down a bit, but it is not a good sign for market players to buy and support gold prices even though it remains stable around $4,100 for now.
Geopolitical conflicts continue to escalate as Donald Trump imposed sanctions on Russia, related to the Ukraine war, targeting oil giants Lukoil and Rosneft.
On Wednesday, sources revealed that the White House plans to block China's access to software made by US companies in response to China's export controls on rare earths and port fees on US-owned ships.
Although gold recorded its biggest loss on Tuesday in five years, it still rose 57% on the year.
Market participants are now eyeing the US Consumer Price Index (CPI) release for September on Friday, with economists estimating headline and core CPI at 3.1% annualized.
