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Gold on track for third weekly loss on firm dollar, hawkish Fed signals
Gold prices fell on Friday and were on track for a third consecutive weekly decline, as a stronger dollar and hawkish signals from the US Federal Reserve weighed on the non-yielding metal. Spot gold was down 0.6% at $4,184.33 per ounce, as of 0211 GMT. The contract was down 0.9% so far this week. US gold futures for August delivery fell 1% to $4,202.10. Markets in mainland China and Hong Kong were closed for the Dragon Boat Festival holiday. The dollar hovered around a one-year high, making greenback-priced bullion more expensive for other currency holders. “Gold’s rally on the back of the US-Iran peace deal ... (full story)
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