Gold declines into third weekly loss
Gold prices declined today, Friday, heading toward their third consecutive weekly loss due to the rising US dollar and ongoing concerns over tightening monetary policy, which weakened the appeal of the precious metal. Spot gold dropped by 2.4% to $4,144 per ounce, while gold futures decreased by 2.3% to $4,146.90 per ounce. Other precious metals, such as silver, platinum, and palladium, also saw declines and continue to lose value throughout the week amid a tightening monetary environment and decreasing risk appetite.
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