Gold is heading for its first loss in 5 weeks
Gold prices stabilized on Friday, but are heading for their first weekly decline in five weeks, as the dollar's rise made the metal more expensive for holders of other currencies and faced support from lower US bond yields.
And the price of gold settled in spot transactions at 1807.45 dollars an ounce. And gold is down 0.2 percent since the beginning of the week. US gold futures settled at $1,806.20.
The dollar index settled near its highest level in three and a half months against other major currencies, and is heading for the second weekly rise in a row.
"We expect gold to remain stuck within a range in the coming weeks. However, inflation will remain a major driver of gold prices in the coming months, supporting prices in the near term," Fitch Solutions said in a note.
Giving some support to gold, yields on US Treasuries fell.
Silver fell 0.2 percent to $ 25.40 an ounce, and is heading for its third weekly decline.
Palladium rose 0.4 percent to $ 2727.94, and platinum settled at $ 1092.71.
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