Sina US Stock News In the early morning of the 16th Beijing time, gold futures prices closed down on Friday, narrowing the rise in gold prices this week. Positive comments on the progress of international trade agreements have dampened the price of gold.

Analysts said that gold is still an excellent defensive strategy option when international trade relations are tense, and when the Fed's monetary policy did not decisively reverse easing, the price of gold futures could only confirm the buying trend if it broke through 1,480 US dollars/oz, and this price level was difficult to achieve.

On Friday, gold futures for December delivery on the New York Mercantile Exchange fell $4.90, or 0.3 percent, to close at $1468.50 per ounce. Based on the most active contracts, the cumulative increase in gold futures prices this week was about 0.4%.

The price of silver futures fell 8 cents, or 0.5%, in December to close at $16.948 per ounce. The cumulative price of silver futures increased by about 0.7% this week.

Analysts pointed out that key members of the US government made positive remarks on the first phase of the trade agreement on Thursday night, putting pressure on the price of gold.