Gold prices fell 2% on Friday and were on track for a weekly dip as the dollar rose and signs of easing U.S.-China trade tensions after a report that Beijing had exempted some U.S. goods from its tariffs weighed on bullion.

Gold futures bounced after a sharp downturn, amid worries caused by persistent geopolitical instability and concerns over trade tensions, including uncertainty around U.S.-China negotiations

Gold futures fell 1.36% to $3,302.90 a troy ounce but remained up more than 25% year-to-date. Gold continues to benefit from safe-haven demand as investors seek protection from global trade fragmentation and deteriorating confidence in policy stability,