Gold set for weekly loss as inflation, rate hike fears persist

New York [US], June 13: Gold prices fell on Friday and were track for a weekly loss, pressured by concerns around inflation and potential US Federal Reserve interest rate hikes.
Spot gold was down 0.5% at $4,191.17 per ounce, as of 02:52 GMT, and was set for a weekly loss of 3.2 percent.
US gold futures for August delivery rose 2.4 percent to $4,212.70.
Spot silver ⁠fell 0.4 percent to $67.10 per ounce, and platinum gained 0.7 percent to $1,731.40, with both metals headed for a weekly loss, while palladium rose 1.6 percent to $1,289.33, and gained about 5 percent for the week so far.
Source: Emirates News Agency