Gold Prices Decline Amid Dollar Strength and Anticipation of U.S. Inflation Data
Gold prices fell on Friday, heading towards a second consecutive weekly loss, influenced by a slight rise in the dollar and developments in the Middle East. Markets are awaiting U.S. inflation data to assess the Federal Reserve’s monetary policy trajectory.
Spot gold dropped 0.4% to $3,313.23 per ounce, marking a weekly decline of 1.7%.
Meanwhile, U.S. gold futures decreased by 0.7% to $3,325.70.
In other precious metals markets, silver steadied at $36.63 per ounce, while platinum slid 1.8% to $1,391.28 after reaching an 11-year high. Conversely, palladium surged by 1.4%, hitting its highest level since October 2024 at $1,147.78.
