Gold prices remained steady below the US$2,900/oz mark throughout the week as investors assessed escalating trade tensions and recession fears.
There's also upcoming United States nonfarm payrolls data, which could significantly impact Fed policy expectations, potentially supporting further gains for bullion.
The US$2,926-US2,930/oz zone now seems to have emerged as an immediate hurdle, above which the Gold price could aim to retest the all-time peak, around the US$2,956 region touched in February.
In gold-related news, mining heavyweight Newmont (ASX : NEM) has completed a selldown of three more non-core projects in Canada and the U.S.
No longer deemed Tier 1, the gold miner has sold the Musselwhite operation and the Éléonore operation in Canada, and the Cripple Creek and Victor operations in Colorado, U.S. for US$1.7 billion ($2.7 billion).
It also expects to divest its Akyem operation in Ghana and Porcupine in Canada for up to US$1.4 billion ($2.2 billion) in proceeds during 1H FY25.
Newmont expects to have generated up to US$4.3 billion in total proceeds across the entirety of the financial year.
