2019.09.2706:57:00UTC+00Gold Falls As Dollar Ticks Up

Gold prices fell on Friday and remained on track for their third weekly fall for the month as the dollar stood tall on hopes of a quick resolution to the U.S.-China trade war.

Spot gold declined 0.9 percent to $1,491.30 per ounce, falling more than 1 percent for the week after gaining 2 percent last week. U.S. gold futures were down as much as 1.2 percent at $1,497.85.

The U.S. dollar continued to gain across the board as a slew of U.S. economic data beat expectations and investors preferred the safety of the dollar in the wake of rising political uncertainty.

The intelligence community whistleblower complaint released publicly on Thursday alleges that President Trump "used the power of his office to solicit interference from a foreign country in the 2020 U.S. election."

After the complaint was released, Trump immediately tweeted, "The Democrats are trying to destroy the Republican Party and all that it stands for. Stick together, play their game and fight hard Republicans. Our country is at stake."