Gold Declines for Third Week
Gold experienced a decline for the third consecutive week, with spot prices and futures being significantly affected by the strengthening dollar and Treasury yields. The spot gold price dropped by 1.84% to approximately $4,348.93 per ounce, while futures contracts declined by 1.51% to reach $4,390 per ounce. This downturn is attributed to reduced demand for the metal as a safe haven due to the rising dollar and bond yields, despite attempts to regain some gains in Friday’s session.
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