Gold prices traded lower on Friday and headed for a weekly loss as escalating hostilities in the Middle East rekindled inflation and interest-rate worries.
Spot gold dipped half a percent to $4,102.31 an ounce and was on track for a weekly loss of about 1.5 percent. U.S. gold futures were down 0.7 percent at $4,110.76.
Bullion is in a consolidation mode as tit-for-tat strikes between Iran and the U.S. sent oil prices surging and reinforced the probability of the Federal Reserve raising rates this year.
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August 21, 2026 14:42 ET The minutes of the latest policy meeting of the Federal Reserve, housing market data and manufacturing sector survey results were the main news for the U.S. economy this week. In Europe, inflation data from the U.K. was the highlight, while consumer price data from Japan drew attention in Asia.