Commodities
Gold Edges Up but Faces Weekly Loss Amid Rate Hike Expectations
Gold prices saw a small increase on Friday but were still poised to end the week in negative territory due to rising US Treasury yields and growing expectations of Federal Reserve rate hikes.
The spot gold price rose by 0.6% to $4,303.19 per ounce at 1210 GMT, while US gold futures increased by 1% to $4,339.
Despite its traditional role as an inflation hedge, higher interest rates are dampening demand for gold as investors opt for yield-bearing assets instead.
Gold sales in India picked up slightly this week as lower prices attracted buyers ahead of the upcoming festive season.