Gold price rises over 2%

Gold prices rose more than 2 percent on Friday and logged their best week in six, as investors sought the safe-haven asset amid renewed tariff threats from US President Donald Trump and a weaker dollar.

Spot gold gained 2.1 percent to $3,362.70 an ounce by 1356 ET (1756 GMT). Bullion rose 5.1 percent this week to touch an over two-week high.

US gold futures settled 2.1 percent higher at $3,365.8.

"Trump has been on a tear the last 24 hours. Threatening 50 percent tariffs on the EU as of June 1, biting Apple and hammering Harvard has stocks in a black mood, which is great for gold," said Tai Wong, an independent metals trader.

"Renewed tariff concerns on a low-liquidity day ahead of the long weekend can magnify moves."

Global stocks tumbled after Trump recommended 50 percent tariffs on European Union imports from June 1. Trump also said that Apple would pay a 25 percent tariff on iPhones that are sold in the US but not made there.