Gold heads for biggest weekly loss in six weeks
7/17/2026 2:11:56 PM
Gold prices rose on Friday but remained on track for their biggest weekly decline in six weeks, Reuters reported.
The precious metal has come under pressure as rising oil prices fueled inflation concerns globally and in the United States, reinforcing expectations that the Federal Reserve could raise interest rates.
As of 1025 Moscow time, August gold futures were up 0.31% at $4,004.60 an ounce, while spot gold gained 0.49% to $3,995.87 an ounce.
The precious metal has come under pressure as rising oil prices fueled inflation concerns globally and in the United States, reinforcing expectations that the Federal Reserve could raise interest rates.
As of 1025 Moscow time, August gold futures were up 0.31% at $4,004.60 an ounce, while spot gold gained 0.49% to $3,995.87 an ounce.