Dollar Strength Fuels Gold Price Dip
The US dollar strengthened on Friday, pushing gold prices down more than 1% as investors adjusted their bets on future rate hikes after the Federal Reserve meeting this week.
Spot gold slipped to $4,062.05 per ounce in early trading, still up about 0.5% for the week and 1.7% so far this month.
The dollar's gain was its biggest one-day increase since January 2023, making bullion more expensive for holders of other currencies.