Gold Heads for Weekly Loss on Rate Hike Bets
Gold prices are heading for a weekly loss as sticky inflation concerns and hawkish signals from Federal Reserve policymakers drive up US Treasury yields. The precious metal struggles to maintain appeal while investors turn toward yield-bearing assets amid mounting rate hike expectations.
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Gold prices edged higher during Friday afternoon trade but faced a weekly decline of 2.1% amid rising United States Treasury yields. The precious metal struggled against persistent inflation risks and a hawkish shift in central bank policy. Higher yields increase the opportunity cost of holding non-yielding bullion, putting pressure on safe-haven assets.
