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Gold heads for weekly loss as stronger dollar, Fed rate outlook weighs
Gold prices ticked up on Friday but were set to post a weekly loss, pressured by a stronger dollar and growing expectations that the Federal Reserve will keep interest rates elevated to contain inflation. Spot gold rose 0.2% to $4,288.36 per ounce by 0200 GMT, but was down 2% so far this week. US gold futures edged 0.6% higher to $4,323.10. The dollar was headed for a weekly gain, making greenback-priced metals more expensive for holders of other currencies, while US Treasury yields extended gains. “Focus will definitely continue to be on the interest rate situation. When we start to see...
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