interest rate
Bullion gained more than 1 percent so far this week, rising to an all-time high of $2,954.69 on Thursday
Gold was trading near its all-time high of $2,946.85 it hit on Wednesday
Spot gold dropped 0.2 percent to $2,928.52, while U.S. gold futures fell 0.1 percent
West Texas Intermediate crude futures also experienced a 0.3 percent rise, reaching $72.03 per barrel
The U.S. dollar fell to near its lowest level since December 17 in reaction to disappointing U.S. retail sales data on Friday
Crude Oil WTI Futures expiring in March were similarly muted at $70.69 a barrel
On Thursday, Trump asked his economics team to set up plans for reciprocal tariffs on every country taxing U.S. imports
These comments follow Powell's statement that policymakers shouldn't rush to cut rates amid inflation
President Trump said he would impose reciprocal tariffs as soon as Wednesday evening on every country that charges duties on U.S. imports
Russia is the world's third-largest oil producer and sanctions imposed on its crude exports have supported higher prices
The U.S. Consumer Price Index (CPI) report is scheduled for release at 13:30 GMT later today
