Gold set for weekly loss as inflation, rate hike fears persist

CAPITALS, (UrduPoint / Pakistan Point News / WAM - 12th Jun, 2026) Gold prices fell on Friday and were ‌on track for a weekly loss, pressured by concerns around inflation and potential US Federal Reserve interest rate hikes.

Spot gold was down 0.5% at $4,191.

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17 per ounce, as of 02:52 GMT, and was set for a weekly loss of 3.2 percent.

US gold futures for August delivery rose 2.4 percent to $4,212.70.

Spot silver ⁠fell 0.4 percent to $67.10 per ounce, and platinum gained 0.7 percent to $1,731.40, with both metals headed for a weekly loss, while palladium rose 1.6 percent to $1,289.33, and gained about 5 percent for the week so far.