Gold heads for weekly loss on oil-driven inflation fears

WORLD CAPITALS, (UrduPoint / Pakistan Point News / WAM - 15th May, 2026) Gold fell to a more than one-week low ‌on Friday and was set for a weekly decline as higher energy prices fuelled inflation fears and prolonged higher interest rates.

Spot gold extended losses for the fourth straight session and was down ​0.

8 percent at $4,613.19 per ounce by 0205 GMT, its lowest level since 6th May. Bullion was down 2.1 percent so far this week.

US gold futures for June delivery lost ​1.4 percent to $4,619.

Spot silver fell 3.1 percent to $80.93 per ounce, platinum lost 1.7 percent ​to $2,021.75, and palladium was down 0.9 percent at $1,423.75.