FX.co ★ Gold Heads for Weekly Loss

Gold prices fell to approximately $3,290 per ounce on Friday, poised for a weekly decline exceeding 1%. This movement reflects investor caution ahead of the upcoming US Personal Consumption Expenditures (PCE) inflation report, which may offer new guidance on the Federal Reserve's future interest rate decisions. On Thursday, the value of gold saw a nearly 1% increase after a federal appeals court permitted the continuation of President Donald Trump's extensive tariffs, despite a recent U.S. Court of International Trade decision blocking them due to procedural concerns. Meanwhile, San Francisco Federal Reserve President Mary Daly indicated that while two interest rate reductions are still on the table for this year, as anticipated in March, maintaining current interest rate levels is crucial to achieving the Fed's 2% inflation objective. As a result, the precious metal has gained 0.4% so far this month, marking its fifth consecutive month of growth.