Gold prices fell on Friday as the dollar rose against most major rivals while trade tensions cooled as investors shunned off the safe haven.
US two-year treasury yields fell by 3.9 basis points to 3.934%, while 10-year note yields fell by 6.1 basis points to 4.394%, as 30-year note yields fell by 6 basis to 4.861%.
Even as the US reached a preliminary trade deal with China, concerns remain about the high tariffs and their impact on corporations.
From his side, Fed Chair Powell warned against the increasing likelihood of supply shocks and subsequent high prices, and added the bank will adjust its outlook to accommodate such changes.
JPMorgan CEO Jimmie Damon also warned that recession risks remain for the US economy amid the ongoing impact of the tariffs on the global economy.
Otherwise, the dollar index rose 0.2% as of 19:50 GMT to 101.08, with a session-high at 101.2, and a low at 100.5.
On trading, gold spot prices fell 1.2% as of 19:50 GMT to $3189.4 an ounce, with a weekly loss of 4.7%.
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