Gold set for over 2% weekly decline
Gold prices declined today, Friday, heading towards recording weekly losses due to the strength of the dollar and expectations that the Federal Reserve will continue raising interest rates for a longer period to combat inflation. The spot gold price decreased by 0.2% to $4,270.83 an ounce, while US futures contracts fell by 0.2% to $4,305.10. Other precious metals also saw declines, with silver down by 0.5% and platinum by 0.1%, as investors watch the Federal Reserve's policies and their impact on the appeal of precious metals.
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