Gold prices set for weekly drop as oil costs rise
Spot gold is on track for a 3% weekly loss as Brent crude prices hover above $105 a barrel. Elevated energy costs and stalled peace talks are pressuring bullion.
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Xurve View
Gold prices remained stable on Friday but are currently on track for a weekly decline as surging energy costs reignite inflation concerns and the prospect of sustained high interest rates. The precious metal has retreated approximately 3% this week, snapping a four-week rally, as geopolitical tensions in the Middle East continue to influence global markets.
