Gold is heading for gains for the third week amid expectations of a US interest rate cut

The price of gold fell today, due to the rise in the dollar and doubts about the ceasefire between the United States and Iran, but the precious metal is still on its way to achieving gains for the third week in a row, as investors expect a significant cut in US interest rates this year, which provided support for gold, which does not generate a return.

By 0316 GMT, the price of gold in spot transactions fell 0.1 percent to $4,759.54 per ounce. However, the metal achieved gains of 1.8 percent since the beginning of the week.