Gold is headed for its fourth consecutive weekly loss
Capitals, June 26 / WAM / Today, Friday, gold is heading towards incurring a loss for the fourth week in a row, and the price remains below the level of $4,000 per ounce, with the steadfastness of the dollar and expectations of raising US interest rates at a faster pace to curb inflation.
The price of gold in spot transactions fell 0.9% to $3,991.49 per ounce, by 02:47 GMT.
US gold futures for August delivery lost 1% at $4,007.30.
Over the course of the week, gold is heading to record a loss of 4%, after it fell on Wednesday below the main $4,000 level for the first time since November 2025.
The dollar index stabilized near its strongest levels since May 2025, on its way to achieving gains for the second week in a row, which increased the cost of gold for holders of other currencies.
Gold prices fell by about 29% from their highest levels of $5,594.82 on January 29.
As for other precious metals, the price of silver in spot transactions fell 3.2% to $56.01 per ounce, platinum fell 2.4% to $1563.20, and palladium lost 1.6% to $1165.93, while the three metals are heading towards incurring a weekly loss.
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