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Gold heads for weekly loss on oil-driven inflation fears

Gold heads for weekly loss on oil-driven inflation fears
15 May 2026 08:53

WORLD CAPITALS (WAM)

Gold fell to a more than one-week low ‌on Friday and was set for a weekly decline as higher energy prices fuelled inflation fears and prolonged higher interest rates.

Spot gold extended losses for the fourth straight session and was down ​0.8 percent at $4,613.19 per ounce by 0205 GMT, its lowest level since May 6.

Bullion was down 2.1 percent so far this week.

US gold futures for June delivery lost ​1.4 percent to $4,619.

Spot silver fell 3.1 percent to $80.93 per ounce, platinum lost 1.7 percent ​to $2,021.75, and palladium was down 0.9 percent at $1,423.75.

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