Gold Prices Dip on Stronger Dollar, Weekly Gain Intact

Gold prices eased on Friday due to a stronger dollar but remained near the previous session’s highs, resulting in a weekly gain. Speculation about a potential pause in interest rate hikes by the Federal Reserve supported the positive sentiment. Despite the slight dip, gold is still sought after as a hedge against economic slowdown. Silver saw gains and platinum experienced a minor decline, while palladium reached its lowest level since June 2019. Market attention now turns to the upcoming U.S. consumer inflation report and the Fed’s policy decision.