Gold prices settled higher Friday, chipping away some of their weekly loss, as comments from President Donald Trump on U.S. interest rates and the dollar, weighed heavily on greenback.
Trump voiced his displeasure with Federal Reserve interest-rate increases in a Thursday interview, prompting a decline in the benchmark dollar index, which gained momentum after he tweeted on Friday, accusing China and the European Union of manipulating their currencies and interest rates:
China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day - taking away our big competitive edge. As usual, not a level playing field...
— Donald J. Trump (@realDonaldTrump) July 20, 2018
