2023-05-12 12:02:35
Gold prices are heading down for the third consecutive session, affected by the rise in bond yields and the dollar, but the yellow metal remained above the key level of $2,000, amid expectations of a rate cut at the end of the year.
Gold fell in spot trading 0.6 percent to 2003.08 dollars, down 0.7 percent during the week. US gold futures fell 0.7 percent to $2,006.60
Gold tends to gain during times of economic or financial uncertainty as a safe haven, while low interest rates also increase demand for non-yielding assets.
And silver fell in spot trading 1.6 percent to 23.78 dollars. Platinum fell 1 percent to $1,082.59. Palladium rose 0.8 percent to $1,563.39.
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