Global Gold Market: Gold prices are expected to record the largest weekly decline since November; focus on U.S. inflation data
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Gold prices fell due to a stronger dollar, expected to record the largest weekly decline since November. Investors are focused on the upcoming U.S. inflation data for clues on Federal Reserve monetary policy. Spot gold is quoted at $2,864.33 per ounce, down 0.4%. Gold prices have dropped 2.5% this week but rose 2.2% in February. The dollar index has increased by 0.7% this week, making gold more expensive for foreign buyers. Market strategists indicate that a stronger dollar may lead to profit-taking
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