Gold heads for weekly loss as stronger dollar, Fed rate outlook weighs
Gold prices ticked up on Friday but were set to post a weekly loss, pressured by a stronger dollar and growing expectations that the Federal Reserve will keep interest rates elevated to contain inflation. Spot gold rose 0.2% to $4,288.36 per ounce by 0200 GMT, but was down 2% so far this week. US gold futures edged 0.6% higher to $4,323.10. The dollar was headed for a weekly gain, making greenback-priced metals more expensive for holders of other currencies, while US Treasury yields extended gains.