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The Economic Times
The Economic Times
Business

Mounting rate hike bets keep weekly loss in sight for gold

Gold US Federal Reserve US Treasury Inflation United States

Gold prices edged higher on Friday but were headed for a weekly loss, as concerns about sticky inflation, hawkish signals from Federal Reserve policymakers, and higher US Treasury yields dented bullion's appeal.

Spot gold was up 0.1% at $4,282.98 per ounce by 2:05 p.m. ET (1805 GMT). Prices were headed for a weekly loss, down about 2.1% so far. US gold futures settled 0.5% higher at $4,321.20.

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