Gold prices saw a slight increase on Friday, but are heading for their third consecutive weekly decline, pressured by a strong dollar and the Federal Reserve’s hawkish stance on monetary policy, which has dampened hopes for near-term interest rate cuts.
Spot gold rose 0.2 percent to $4,657.50 per ounce by 01:12 GMT. The precious metal has fallen by more than 7 percent since the beginning of the week.
U.S. gold futures for April delivery rose 1.1 percent to $4,657.90.
Among other precious metals, spot silver rose 0.1 percent to $73 per ounce. Platinum rose 0.1 percent to $1,972.80, while palladium increased by 0.4 percent to $1,452.21.
