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Gold prices declined on Friday, heading for their biggest weekly drop since November 2024, as a stronger dollar and continued profit-taking pressured the market. Investors are also awaiting key U.S. inflation data to gauge the Federal Reserve’s next policy moves.

Impact of the Dollar and Trade Policies

Despite being a safe-haven asset, gold faced selling pressure due to market uncertainty and a strong U.S. dollar. Comments from the U.S. president regarding new tariffs on imports from Mexico, Canada, and China added to market volatility, affecting gold demand.

Awaiting U.S. Inflation Data

Investors are focused on the release of the Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge. Analysts expect inflationary pressures to remain under control, which could influence interest rate expectations.

Price Movements

• Gold futures for April delivery fell 1.2% to $2,895.9 per ounce, the lowest level since February 7.
• Spot gold declined 0.8% to $2,854 per ounce, marking a 2.5% weekly drop after eight consecutive weeks of gains.
• The U.S. dollar index rose 0.135% on the day and 0.7% for the week, adding further pressure on gold.

With a strong dollar and uncertainty surrounding the Fed’s policies, the market remains cautious, raising questions about gold’s ability to regain momentum soon.