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Gold Set for Third Weekly Loss as Fed Rate Outlook Supports Dollar

Gold prices fell on Friday, placing the metal on track for its third consecutive weekly decline. A stronger US dollar and hawkish signals from the Federal Reserve have dampened demand. The decline occurred despite geopolitical uncertainty regarding US-Iran relations.

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What changed

Gold prices dropped to a one-week low on Friday as the US dollar reached a one-year high.

Live updates

  1. Gold Faces Third Weekly Loss Amid Hawkish Fed Outlook

    Gold prices fell on Friday, placing the metal on track for its third consecutive weekly decline. A stronger US dollar and hawkish signals from the Federal Reserve have dampened demand. The decline occurred despite geopolitical uncertainty regarding US-Iran relations.

    What's confirmed:

    • Gold is on track for its third consecutive weekly loss.
    • The Federal Reserve held interest rates steady while signaling a more hawkish outlook.
    • A stronger US dollar has weighed on gold demand.
    • Gold prices fell on Friday.

    Still unconfirmed:

    • Gold fell to $4,150 per ounce on Friday.
    • The dollar climbed to a one-year high.
    • Nine of 19 Fed policymakers expect at least one rate hike this year.
    • Gold hit a one-week low of $4,121 earlier on Friday.
    • Gold has backslid to $4,200 per ounce.
    • Gold hit its hardest brakes since 1981.
    confidence 90%