Gold Prices Decline for Third Consecutive Week Amid Tighter Policy Expectations

Gold prices have declined for three consecutive weeks, reaching $4,336.81 an ounce on Friday, which is 2.1% lower than its value seven days ago.

The metal's price has been influenced by the market's shifting expectations about the Federal Reserve's September 15-16 meeting.

Strong US inflation prints have increased the likelihood of a rate hike, supporting Treasuries and the dollar while putting downward pressure on gold.

The week's turbulence began with robust employment data, which emboldened expectations for tighter policy and knocked gold off its highs.