Gold prices fell sharply on Friday and were on track for a third weekly loss amid expectations that central banks including the Federal Reserve will raise interest rates to curb inflation.
A stronger dollar due to uncertainty over the U.S.-Iran peace deal also dented safe-haven demand for bullion.
Spot gold fell a little over 1 percent to $4,164.49 an ounce, heading for a third consecutive weekly decline. U.S. gold futures were down 1.5 percent at $4,181.50.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.