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Commodities

Gold Ticks Up But Heads for Weekly Loss Amid Dollar Strength and Rate Hopes

Guavy AI Editorial Team
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Gold
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Gold prices rose slightly on Friday but were set to post a weekly loss due to a stronger US dollar and growing expectations that the Federal Reserve will keep interest rates elevated to combat inflation.

The spot price of gold increased by 0.2% to $4,288.36 per ounce at 0200 GMT, but was down 2% so far this week.

US gold futures edged up 0.6% to $4,323.10, indicating a slight gain in the market.

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