Gold declines, records second weekly loss
Gold bars
Gold prices declined on Friday, posting a second consecutive weekly loss, as rising oil prices continued to fuel inflation concerns and reinforced expectations of higher US interest rates.
The pressure on precious metals came amid growing market concerns over potential disruptions to energy supplies and global supply chains, driven by tensions surrounding the Strait of Hormuz and ongoing uncertainty over US-Iran negotiations.
According to CME FedWatch data, markets are pricing in a 58% probability of at least a 25-basis-point rate hike by the Federal Reserve before the end of 2026.
Kevin Warsh took oath as Chairman of the Federal Reserve on Friday, with President Donald Trump expressing during the ceremony his desire for Warsh to maintain full independence in his role.
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Gold and Silver Futures Prices |
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Metal |
Price ($/oz) |
Change ($) |
Change (%) |
Weekly Performance |
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Gold (June delivery) |
4,523.20 |
)19.30( |
)0.42%( |
)0.85%( |
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Silver (May delivery) |
75.893 |
)0.521( |
)0.68%( |
)1.64%( |
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Commodity Price
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