Friday 12 June 2026 Abu Dhabi UAE
Prayer Timing
Today's Edition
Today's Edition
Business

Gold set for weekly loss as inflation, rate hike fears persist

Gold set for weekly loss as inflation, rate hike fears persist
12 June 2026 09:46

CAPITALS (WAM)

Gold prices fell on Friday and were ‌on track for a weekly loss, pressured by concerns around inflation and potential US Federal Reserve interest rate hikes.

Spot gold was down 0.5% at $4,191.17 per ounce, as of 02:52 GMT, and was set for a weekly loss of 3.2 percent.

US gold futures for August delivery rose 2.4 percent to $4,212.70.

Spot silver ⁠fell 0.4 percent to $67.10 per ounce, and platinum gained 0.7 percent to $1,731.40, with both metals headed for a weekly loss, while palladium rose 1.6 percent to $1,289.33, and gained about 5 percent for the week so far.

Copyrights reserved to Aletihad News Center © 2026