Gold edged higher on Friday after two days of losses but remained on track for its biggest weekly slide in nearly two months on growing expectations for an increase in U.S. interest rates as soon as next month.
Spot gold strengthened 0.2% at $1,257.11 U.S. an ounce, while U.S. gold futures for June delivery were up $3.30 at $1,258.10 U.S. Spot prices are down 1.5% this week and facing a third straight week of losses.
The metal has rallied 18% this year as investors bet the U.S. Federal Reserve would hold off from further increases.
Among other precious metals, silver was up 0.6% at $16.57 U.S., while platinum was up 1.5%at $1,024.40 U.S. and palladium 2.1% higher at $566.10 U.S. Palladium was the biggest faller of the week, down 4.7%
Related Stories
