Gold Falls as Dollar Strengthens
Gold prices fell on Friday as the dollar ticked up, while investors remained cautious ahead of key U.S. inflation data due later in the day to gauge the Federal Reserve’s monetary policy trajectory.
Spot gold was down 0.6% at $3,295.99 an ounce. Bullion is down 1.8% so far this week.
U.S. gold futures fell 0.6% to $3,294.20.
The dollar rose 0.2% against its rivals and is on track for a weekly gain, making gold costlier for foreign buyers.
Meanwhile, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump’s tariffs on Thursday, a day after a U.S. trade court ruled he had exceeded his authority and ordered an immediate block.
Spot silver fell 0.6% to $33.16 U.S. an ounce, platinum eased 0.8% to $1,073.80 U.S. and palladium dropped 0.4% to $969.79 U.S.
