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Bullion gained 1.8 percent so far this week, placing it on track for a fourth straight weekly gain
The new tariffs will apply to vehicles assembled in countries with free-trade agreements with the U.S., such as Canada, Mexico, and South Korea
Tariffs that increase vehicle prices may suppress auto sales and, consequently, the demand for oil products
Gold prices are expected to reach $3,300 per ounce on stronger-than-expected ETF inflows and sustained central bank demand
Sheikh Mohamed and Trump noted the positive impact this development will have on the future of bilateral relations
American Petroleum Institute data showed that U.S. crude inventories fell by 4.6 million barrels last week
U.S. dollar gained 0.13 percent to 104.32, making bullion less attractive for other currency holders
PCE and GDP data on the horizon for market insights
OPEC+ ready to move forward with scheduled output increase in May
Spot gold was up 0.1 percent at $3,025.12 an ounce
West Texas Intermediate (WTI) crude futures lost 0.3 percent to $67.67 per barrel
The U.S. dollar index gained 0.15 percent to 104.01 on Friday, making crude more expensive for foreign buyers
