FILE PHOTO: A saleswoman picks gold necklaces to show to a customer inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold-buying festival, in Kochi, India, May 7, 2019. REUTERS/Sivaram V/File Photo
SINGAPORE: Gold headed for the biggest weekly loss in more than two years as progress in U.S-China trade talks hammered demand for havens and sent miners’ shares tumbling.
Spot bullion is 3% lower this week, the most since May 2017, after prices dropped on Thursday as Washington and Beijing moved closer to a phase-one agreement. Other precious metals plunged, with silver down 6.1% since Monday.
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