Gold futures were rising, holding close to record highs as geopolitical and trade tensions boost safe-haven demand.
Futures were up 0.3% at $2,961.70 a troy ounce, close to an all-time high of $2,973.40/oz, set on Thursday.
Gold recorded its eighth consecutive week of gains and a fresh high in recent days on fears that the U.S. could unwind its support for Ukraine in the war against Russia, ANZ Research analysts said in a note.
Additional support has come from a softer U.S. dollar, which recorded its third straight weekly loss—increasing gold’s safe-haven appeal to investors, ANZ said.
ETF holdings have also risen to their highest level since January, 2024, with more than 16 metric tons added last week, ANZ added.
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