Gold prices traded lower on Friday and headed for a weekly loss despite renewed optimism about U.S.-Iran talks. Both the sides are still at odds over Tehran's uranium stockpile and future control of the Strait of Hormuz.
Spot gold dipped 0.4 percent to $4,525.80 an ounce and headed for a decline of around half a percent for the week due to increased expectations for Federal Reserve rate hikes this year. U.S. gold futures were down 0.7 percent at $4,525.05.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.