Gold Prices Drop as Investors Yearn for More Trade Certainty

Gold prices were sliding on Friday as investors waited for a key inflation report and hoped for an end to recent trade uncertainty.

Futures slipped 0.6% to $3,324 per Troy ounce in early trading, meaning the precious metal was about 5% off the record high it hit last month.

Bullion prices tend to rise in times of uncertainty, as it's seen as a safe haven that can maintain its value. While there still isn't much clarity about what's happening on the tariff front, investors will be hopeful that Friday's personal consumption expenditures inflation print will give them a clue about where interest rates are headed.