Gold gains on Trump's latest tariff salvo

Gold rose - putting it on track for a 2% weekly gain - as President Donald Trump said some US trading partners would face tariffs from Aug 1. Bullion rose 0.5% to around $3,340 an ounce on Friday as investors weighed the latest trade comments from the president, who said the administration will start sending letters on Friday that set new levy rates for several countries.

Trump has long threatened that if countries fail to reach deals with a July 9 deadline, he would impose higher rates on them, raising the stakes. So far, the administration has announced deals with the UK and Vietnam and agreed to a truce with China.