2019.02.1505:59:00UTC+00Gold Inches Higher As US-China Talks End

Gold prices inched higher on Friday and the dollar weakened slightly against a basket of currencies as two days of U.S.-Chinese trade talks ended.

Spot gold rose 0.35 percent to $1,317.12 per ounce while U.S. gold futures were up nearly half a percent at $1,319.95 per ounce.

High-level talks between American and Chinese officials ended in Beijing and it remains unclear whether the two sides have made any progress in resolving the thorny issues.

U.S. Treasury Secretary Steven Mnuchin said on Twitter that they had "productive meetings" with Liu He, China's economic czar.

Gold prices also remain supported by uncertainties around Brexit and increasing political uncertainty in Europe after Spanish Prime Minister Pedro S?nchez called for a snap general election in April.

The dollar fell on the back of weak U.S. retail sales data released overnight, showing its worst showing since September 2009.

The data fanned concerns of slowing economic momentum in the world's largest economy and reinforced expectations that the Federal Reserve will not raise interest rates this year.

Elsewhere, China's inflation slowed in January, suggesting that demand remained sluggish at the start of 2019.