Gold prices have fallen for the second week in a row amid persistent inflation concerns and growing expectations of a Federal Reserve interest rate hike, while investors are monitoring news of a possible ceasefire agreement between the US and Iran, Report informs referring to trading data.
Spot gold fell 0.6% to $4,186.99 per ounce, representing a weekly decline of over 3%.
US gold futures for December delivery rose 2.2% to $4,206.80 per troy ounce.