Gold prices continue to decline
Gold continued its downward trend on Friday after positive economic data reduced expectations for an imminent cut in U.S. interest rates. The easing of geopolitical tensions has also contributed to decreased demand for safe-haven assets.
In spot trading, gold fell 0.4% to $4,598.52 per ounce, but the precious metal is on track for a weekly gain of about 2%, having reached an all-time high of $4,642.72 on Wednesday.
As for other precious metals, silver dropped 1.8% in spot trading to $90.70 per ounce, yet it is set to achieve a weekly increase of over 13% after hitting an all-time high of $93.57 in the previous session.
Platinum decreased 2.8% to $2,342.14 per ounce, while palladium lost 2.3% to $1,759.07 per ounce after recording its lowest level in a week earlier.
