Gold prices in Asia were down on Friday as global stocks rose on the back of U.S. President Donald Trump’s plans to reopen the world’s biggest economy after a month-long lockdown to prevent the spread of COVID-19.
President Trump announced the plans overnight, and Asian stocks were also up as China prepares to release its GDP data later in the day.
Gold futures were down by 0.38% at $1,725.20 by 9:47 PM ET (2:47 AM GMT), retreating from their gains in the previous session. Gold gained to 1.3% as theU.S. also announced that 5.2 million people claimed unemployment over the past week, against analyst forecasts of 5.1 million claims prepared by Investing.com.