Gold prices dropped almost 2% on Friday and were poised to break nine week winning
streak as investor booked profits and signs of easing trade tension between US and
China tempered safe haven demand ahead of Key US inflation report.
current gold rate
Spot gold was down 1.9% at $4.047 .30 per ounce at 1105 GMT marking 4.8% decline so far this week.
The mega week percentage drop since November 2024 US gold futures for December delivery feel 2% to $4061.30 per ounce.
Bullion has gained 55% this year driven by geopolitics turmoil cental bank purchasing and expectation of US interset rate cuts.
Spot prices hit a record high $4181.21 on Monday after climbing past $4000/oz mark for first time this month.
current gold rate
Traders are waiting lates US consumer per index report due 12 30 GMT63.
Market still anticipate the Federal Reserve will cut interest rates by 25 basis points at its meeting next week.
The dollar index was up 0.6% for the week making gold more expensive for other currency holders.
Spot silver fell 2.2% to $47.83 per ounce and was on track for worst week since March down 7.$% so far.
current gold rate
Platinume slipped 2.6% to $47.83 per ounce and was on track for worst week.
March down 7.4% so far Platinum slipped 2.6% to $1581.30 on Friday and lost 4.1% to $1397.50.
current gold rate
