Gold is getting cheaper by 1.5% and ends the week in the red

On Friday, gold futures fell significantly in price, ending the week with a negative result against the background of a strengthening dollar and a decrease in trade tensions between the United States and China. 

June gold futures on the Comex exchange fell 1.5% to $3,177 per troy ounce. During the week, the value of the precious metal decreased by about 4%.

At the beginning of the week, it became known about the agreement between the United States and China and the temporary reduction of import tariffs for a period of 90 days, which reduced interest in protective assets such as gold and contributed to the growth of the US currency. 

The DXY index, calculated by ICE and reflecting the dynamics of the dollar against other major world currencies, has increased by about 0.4% since the beginning of the week.