Gold Headed For Weekly Loss On Fed Rate-hike Bets

Gold prices traded lower on Friday and were set for a weekly loss, even as renewed optimism around U.S.-Iran talks provided some support to risk appetite. Persistent tensions over Iran's uranium stockpile and control of the Strait of Hormuz remain a geopolitical overhang. The move is modest in size but directionally negative for gold in the near term.

Analysis

Gold prices traded lower on Friday and were set for a weekly loss, even as renewed optimism around U.S.-Iran talks provided some support to risk appetite. Persistent tensions over Iran's uranium stockpile and control of the Strait of Hormuz remain a geopolitical overhang. The move is modest in size but directionally negative for gold in the near term.