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Gold Heads for Third Weekly Gain on Rising Demand for Havens

  • China stokes tensions as missiles reportedly fired over Taiwan
  • US non-farm payrolls data due Friday will be closely watched
Updated on

Gold traded near a one-month high -- after jumping the most since March on Thursday -- as US-China tensions and a deepening global economic slowdown buoyed demand for haven assets. 

Bullion headed for a third weekly gain, even as prices slipped on Friday, after China likely fired missiles over Taiwan during military drills. Beijing has responded aggressively to US House speaker Nancy Pelosi’s visit to the island this week.