WASHINGTON (dpa-AFX) - Gold prices were little changed on Friday, after having hit a new record high above $2,800 per ounce earlier on heightened U.S. tariff concerns and in response to a weaker U.S. GDP print.
Spot gold was marginally lower at $2,793.75 per ounce in European trade while U.S. gold futures traded with a positive bias at $2,846.49.
Spot gold was up more than 6 percent so far this month due to concerns over U.S. President Donald Trump's trade and tariff policies.
The U.S. dollar traded higher as investors assess the impact of Trump's threats on global growth.
On Thursday, Trump announced that 25 percent tariffs on Canada and Mexico are coming on Saturday, although crude flows may be exempted from the levies.
He also pledged to move forward with 10 percent import duties on China and threatened 100 percent tariffs on BRICS nations over dollar replacement moves.
Meanwhile, amid much uncertainty over the Federal Reserve's rate path, markets await a U.S. Commerce Department report on personal income and spending later in the day for further direction.
The report includes readings on consumer price inflation preferred by the Federal Reserve.
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