Gold prices fall, record weekly gains

Gold bars

Gold prices fell on Friday as trade policy decisions by US President Donald Trump added to global market uncertainty. However, the precious metal recorded weekly gains.

Gold futures for April delivery fell 0.45%, or $12.5, to $2,914.1 per ounce, with weekly gains of 2.3%.

The US dollar index eased 0.2% to 103.85 points at 10:51 pm Makkah time.

Federal Reserve Chair Jerome Powell said the White House “is in the process of implementing significant policy changes in four distinct areas: trade, immigration, fiscal policy, and regulation.”

“It is the net effect of these policy changes that will matter for the economy and for the path of monetary policy,” he noted.

The US economy added 151,000 jobs last month, an increase from January's revised gains of 125,000 jobs, according to Bureau of Labor Statistics data released Friday.