Brent crude oil futures were at $73.26 per barrel at 1139 GMT, down 52 cents from their last close.
According to Angel Commodities, on Thursday , spot gold prices fell 0.3 percent to close at $ 1345.2 per ounce as expectations that the US - North Korea summit would be successful eased safe haven demand.
Oil prices on Thursday hit highs not seen since 2014, built on the ongoing drawdowns in global supply and as Saudi Arabia looks to push prices higher, though US crude gave back gains in the afternoon to finish lower.
Gold prices inched lower on Friday and were headed for the first weekly decline in three as expectations of higher US interest rates and easing political tensions on the Korean Peninsula and Syria weighed on demand for the safe-haven metal.
Gold prices edged down early on Friday as global political tensions eased, but expectations for rising inflation supported demand for the safe-have asset.
Commodities expert Manisha Gupta decodes the sector and brings to you her insights on how to tread the rising metal wave.
According to Angel Commodities, MCX Cotton closed lower for the second consecutive session on Wednesday to touch more than a two - week low due to profit booking by the market participants.
Oil prices rose on Thursday to their highest since the end of 2014 as US crude inventories declined and as top exporter Saudi Arabia pushes for higher prices by continuing to withhold supplies.
Oil prices on Thursday remained close to highs touched the previous day that were last seen in late 2014, buoyed as US crude inventories declined and as top exporter Saudi Arabia is expected to keep withholding supply to prop up the market.
Gold prices were flat early Thursday while the dollar stayed firm helped by higher long-term US Treasury yields, though lingering US-China trade tensions kept the greenback's gains in check.
Gold prices continued to move northward, rising by Rs 135 for 10 grams today to close at Rs 31,290 per 10 grams. The precious metal had been on the rise for the past two-three days ahead of the big sales day.
Watch Manisha Gupta share outlook on gold on the auspicious occasion of Akshaya Tritiya.
Geopolitical tension, weak US dollar, stock market volatility & concerns over rising government deficit augurs well for Gold, a safe haven for investors in times of uncertainty
Brent crude oil futures were up 54 cents at $72.12 a barrel by 0941 GMT, while U.S. WTI crude futures were up 60 cents at $67.12.
Gold ETFs remain the most attractive option to invest in gold, as owning physical gold involves storage cost.
If you are buying stocks and bonds, it may be advisable to put a small percentage of your portfolio in gold for a long timeframe, said Sumit Bilgaiyan, Founder of Equity99
Tapan Patel of LKP Securities believes gold prices will continue to trade in upper range for FY19 considering USD 1,300/1,290 as strong support range
Overall demand for gold in India is on the rise and it provides a good opportunity for investments.
Gold is a better option as a short to medium-term investment, as long-term returns on the yellow metal are often as low as 10 percent per annum.
According to Angel Commodities, on Tuesday, spot gold prices rose 0.1 percent to close at $1346.9 per ounce as the U.S. dollar's recovery from three - week lows versus the euro added pressure on the metal.
Harit said he expected gold prices to remain in an uptrend in the near term, which will automatically help gold loan companies grow at an even faster pace.
Oil prices rose on Wednesday, lifted by a reported fall in US crude inventories and by the ongoing risk of supply disruptions.
We have been maintaining a positive stance on gold, and a jump in volatility from record lows in 2017 would create a beneficial environment for gold prices.
Gold prices slipped early Wednesday while the dollar held its gains on the back of upbeat March US housing starts and industrial production figures.
Oil prices edged up on Wednesday, lifted by a reported fall in US crude inventories and by the ongoing risk of supply disruptions.