Gold prices are heading for their largest weekly loss since February, as the dollar received support from expectations that the Federal Reserve (the U.S. central bank) will raise interest rates again this year, pushing the yellow metal to its lowest level in more than three months. Spot gold decreased by 0.1% to $1911.32 per ounce, a drop of 2.4% for the week. U.S. gold futures fell by 0.1% to $1921.20. The dollar index rose, heading for weekly gains, making gold less attractive to foreign investors. In other precious metals, spot silver fell by 0.5%, platinum decreased by 0.4%, and palladium dropped by 0.3% after hitting its lowest level since May 2019 in the previous session.
Gold Heads for Worst Week Since February
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