Gold rebounds on Friday but heads for third weekly drop
Gold rose to $4,674.82 on Friday as investors bought on dips, yet it faces a third weekly drop. Hawkish Fed signals and Middle East conflict drive volatility.
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Gold prices rose on Friday as investors engaged in bargain hunting, though the asset remains on track for its third consecutive weekly decline. This trend comes as signals from the United States Federal Reserve suggest a hawkish monetary policy, which has tempered the appeal of non-yielding bullion.
Spot gold climbed 0.6% to $4,674.82 per ounce as of 0943 GMT, rebounding from a near two-month low reached in the previous session. Meanwhile, gold futures for April delivery rose 1.5% to $4,676.30.
