Gold Approaches Third Weekly Drop
Gold prices fell sharply on Friday, marking their third consecutive weekly decline, due to a rising dollar and ongoing concerns over monetary tightening, which diminished its appeal as a safe haven. The spot price of gold dropped by 2.4 percent to $1,344 an ounce, with losses in the US futures contracts for the same period amounting to 2.3 percent, reaching $1,346.90 an ounce. Other precious metals such as silver, platinum, and palladium also declined. These metals are heading toward weekly losses amid a more hawkish monetary environment and reduced risk appetite.
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