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Gold prices fell today, Friday, and are heading for their largest weekly decline in more than 4 months.
Rising oil prices and strong US economic data have reinforced expectations that the US Federal Reserve will keep interest rates at high levels for a longer period.
Spot gold fell 0.3 percent to $1814.69 per ounce, hitting its lowest level since August 3, after falling about 3 percent on Thursday. The metal has dropped 3.4 percent since the beginning of the week, marking its largest weekly decline since June, according to CNBC.
US gold futures for December delivery fell 0.6 percent to $1833.70
dollars.
As for other precious metals, silver fell 1 percent to $20.46 per ounce in spot transactions, platinum fell 0.4 percent to $863.67, and palladium fell 0.5 percent to $1051.00. All three metals are heading for weekly declines.
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