17.01.202009:51:00UTC+00Gold Rises On Doubts Over US-China Deal

Gold prices rose slightly on Friday amid expectations that the formal signing of the Sino-U.S. trade agreement on Wednesday will not resolve core differences.

Spot gold edged up 0.25 percent to $1,556.18 per ounce while U.S. gold futures were up 0.4 percent at $1,556.05.

Under the Phase 1 deal, which has been criticized for its loopholes, Beijing will increase purchases of the U.S. products and services by an additional $200 billion over the next two years.

Concerns still persist about the ability of China to ful?ll its commitments and the lack of any discussion about current punitive tari?s on U.S. agricultural products.

The U.S. dollar held its ground against its rivals after data from the world's largest economy indicated a moderate growth pace at the end of 2019.

Elsewhere, a raft of Chinese economic data either met or beat analyst estimates.

China's GDP data came in line with expectations and there was growth in industrial output and retail sales, suggesting the world's second-biggest economy ended the year on a firmer note.

In the whole year of 2019, China's gross domestic product grew 6.1 percent, which was well within the target of 6-6.5 percent.