MCX GOLD: Gold gained more than 1% on Friday as an escalation in U.S.-China trade tensions boosted bullion's safe-haven demand, even though positive economic signs after some countries alleviated lockdowns set up the precious metal for a weekly drop. So far Yellow metal is all set to register loss of 1%. The fundamentals are still backing Gold, but there was a minor recovery in the manufacturing activity in Europe and the U.S which was indicated in the PMI data which was out last night. The euro zone economy's reduction eased in May, the Purchasing Manager Index (PMI) survey showed. Germany's private sector decline also improved on relaxing of lockdown measures. U.S.-China tensions diminished risk appetite, backing bullion and counterbalancing stress on the metal's prices from the marginally better data. Worries seen from Chinese economy as it declined its annual growth target for the first time.