Gold prices declined for the second consecutive week as persistent inflation concerns and growing expectations of a US Federal Reserve interest rate hike weighed on investor sentiment, while markets closely monitored reports of a possible ceasefire agreement between the United States and Iran.
Spot gold fell 0.6% to $4,186.99 per ounce, bringing its weekly loss to more than 3%.
Meanwhile, US gold futures for December delivery rose 2.2% to $4,206.80 per troy ounce, reflecting continued market volatility ahead of key monetary policy decisions.
Investors remain focused on upcoming signals from the Federal Reserve regarding the path of interest rates, as higher borrowing costs typically reduce the appeal of non-yielding assets such as gold. Developments surrounding a potential US-Iran ceasefire agreement have also influenced market sentiment, easing some demand for safe-haven assets.
.jpg.jpeg)