Gold is headed for a third weekly loss amid the rise in the dollar

Gold prices recorded a slight decline today, and are heading towards the third weekly decline in a row, affected by the rise in the dollar.

Gold fell in spot transactions by 0.5% to $4,189.26 per ounce by 00:43 GMT, and US futures contracts for August delivery also fell by 0.9% to $4,207.80.

The dollar remained close to its highest level in a year, which increases the cost of US currency-denominated gold for holders of other currencies.

In other precious metals markets, silver fell 0.8% to $65.32 per ounce, platinum fell 0.9% to $1,680.87, while palladium fell 0.5% to $1,272.