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.
Source: RT

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