Gold is set to snap a nine-week winning run, following a sharp correction as the market reassessed a rally that had pushed the metal into overbought territory.
Bullion steadied above $4,140 an ounce, putting it on track for a weekly decline of about 3%, the most since May. Investors continued to weigh prospects for improved US-China relations, with President Donald Trump and counterpart Xi Jinping set to meet next week in an effort to deescalate a simmering trade war. A deal would relieve some of the geopolitical tensions that have bolstered demand for haven assets including gold.