Gold set for 3rd weekly loss amid stronger dollar, reduced Fed rate cut hopes

BENGALURU: Gold prices held steady on Friday, but were poised for a third consecutive weekly loss pressured by a stronger dollar and diminished expectations for US rate cuts, while uncertainty from US tariffs on trading partners offered support. Spot gold was steady at $3,293.56 per ounce, as of 12:34 p.m. Saudi time. Bullion is down 1.4 percent so far this week. US gold futures edged down 0.1 percent to $3,344.60. The dollar index hit its highest level since May 29, making gold more expensive for other currency holders.

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