Gold Heads for Weekly Loss as Trade Talks Help Ease Haven Demand

Gold headed for its second straight weekly loss as progress on global trade talks and rising US consumer sentiment helped reduce the appeal for the safe-haven asset.

US consumer sentiment rose sharply in June to a four-month high and inflation expectations improved notably as concerns eased about the economic outlook and personal finances. Meanwhile, the European Union and the US are confident they can clinch some form of a trade agreement before a July 9 deadline, while China confirmed details of a trade framework with Washington.