Gold Prices Drop in Spot Trading

Gold prices decreased on Friday, heading towards a second consecutive weekly loss. In spot transactions, gold fell by 0.4 percent to $3313.23 per ounce by 0234 GMT. The yellow metal's price decreased by 1.7 percent this week.

U.S. gold futures dropped by 0.7 percent to $3325.70. The dollar rose by 0.2 percent against major other currencies, making dollar-denominated gold more expensive for buyers holding other currencies.

For other precious metals, silver remained stable in spot transactions at $36.63 per ounce. Platinum decreased by 1.8 percent to $1391.28, after reaching its highest level in around 11 years. Meanwhile, palladium increased by 1.4 percent, marking the highest level since October 2024 at $1147.78.