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Singapore, April 10 (QNA) – Gold prices edged lower on Friday as US dollar strengthened, though the precious metal remains on track for a third consecutive weekly gain, amid investor expectations of significant US interest rate cuts this year.
Spot gold fell 0.1 percent to USD 4,759.54 per ounce, but is still up 1.8 percent since the start of the week.
US gold futures for June delivery declined 0.7 percent to USD 4,782.70.
Among other precious metals, silver rose 0.9 percent in spot trading to USD 75.74 per ounce, while platinum dropped 2 percent to USD 2,061.06 and palladium fell 1.2 percent to USD 1,539.43.
The dollar index rose, making dollar-denominated gold more expensive for holders of other currencies.
Investors are awaiting US Consumer Price Index (CPI) data for March, due later on Friday, for further clues on the direction of US monetary policy. (QNA)
