Gold closes slightly lower, but scores weekly gain

Gold prices slipped on Friday, as investors turned to stock markets despite the US dollar dropping against it peers.

Investors shrugged off the coronavirus crisis and the spike of the US infections at a record pace, which was followed by several states and cities calling for the return of the public lockdown.

The dollar index fell against a basket of currencies by 0.1% to 96.6 points as of 19:30 GMT, after hitting a high of 96.9 and a low of 96.4.

US President Donald Trump said today that a new trade agreement with the Chinese side isn't a top priority, after the two countries’ relationship has been severely damaged.

Gold August futures slipped 0.1% to close at $1,801.90 an ounce, but posted weekly gains of 0.7%, with a day high of $1,817 and a low of $1,796.5.