Gold prices have decreased and are heading towards a weekly loss, as investors await more indicators to predict the potential reduction in U.S. interest rates in September. Gold in spot transactions fell by 0.2 percent to $2,421.31 per ounce as of 04:02 GMT, following an increase of over one percent on Thursday. The precious metal is set to record its largest weekly loss since June 7. It had dropped nearly three percent on Monday as investors adjusted their positions alongside broader stock sell-offs. Meanwhile, U.S. gold futures declined by 0.1 percent to $2,460.80.
Gold Prices Decline
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