Gold weekly loss pressure grew Friday as spot gold fell 0.4% to about $4,524 per ounce, according to Al Jazeera-cited market data.
US gold futures for June delivery also lost 0.4% to $4,524.20. The metal has shed about 0.4% so far this week.
A stronger US dollar added pressure. Dollar-priced bullion becomes more expensive for buyers using other currencies when the greenback rises.
Oil prices also kept inflation concerns in focus. Traders tracked US-Iran talks after US Secretary of State Marco Rubio cited “some good signs,” while disputes over uranium and the Strait of Hormuz remained unresolved.
Markets have raised expectations for a Federal Reserve rate hike this year. CME FedWatch tracks those odds through 30-day Fed funds futures pricing.
Read: Oil Prices Fall as US Stocks Rise on Iran Talk Hopes
Edward Meir, an analyst at Marex, said a stronger dollar and high global interest rates had driven gold lower. Higher rates often weigh on gold because the metal pays no yield.
Spot silver fell 0.7% to $76.18 per ounce but still headed for a 0.4% weekly gain. Platinum dropped 1% to $1,945.97, while palladium slipped 0.5% to $1,371.90.
