Gold faces weekly decline on inflation worries
Gold prices fell today, Friday, nearing a weekly loss of 3.2%, amid concerns over inflation and the likelihood of a US interest rate hike. The spot price per ounce dropped to $4,191.17, while August futures contracts rose by 2.4% to $4,212.70. Other precious metals also declined, with silver falling to $67.10 per ounce, while platinum saw a slight increase to $1,731.40. Overall, metals are heading toward weekly losses.
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