Gold Faces Weekly Decline Amid Dollar Rise
Gold prices declined today, Friday, approaching weekly losses of over 2%, amid a strengthening dollar and expectations of a U.S. interest rate hike. The spot gold price fell by 0.2% to $1,834.27 per ounce, while futures rose to $1,930.10. Expectations of continued U.S. rate hikes were reinforced by statements from Federal Reserve officials, increasing the cost of dollar-denominated metals, while other metals such as silver and palladium also experienced weekly losses.
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