Gold Nears Third Weekly Loss on US Inflation
Gold prices are heading for a third consecutive weekly decline as traders await key US inflation data. Expectations for a Federal Reserve rate hike have strengthened following recent producer price figures. Meanwhile, ongoing geopolitical tensions and rising Treasury yields continue to pressure the metal.
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Gold headed for a third consecutive weekly decline, falling nearly 2% for the week despite edging 0.8% higher during Friday morning trade to $4,351.97 per ounce.
