Gold prices slightly lower on Friday, set for second-yearly straight losses

Gold prices declined slightly today, Dec. 30, heading for the second-yearly straight losses, as the Fed's strong interest rate hike this year boosted the US dollar.

Although the prices of the precious metal are nearly $200 higher than the two-year low hit in September, they are heading for an annual loss of 0.7%.

Gold futures for February delivery fell by 1.40% to $1,824.60 an ounce at 10:39 am Makkah time. Spot prices also edged up by 0.1% to $1,816.66 an ounce.

Silver futures for March delivery were down 0.47% to $24.14 per ounce, but heading for weekly gains.

Spot prices for platinum lost 0.23% to $1,055.13. Palladium prices decreased 0.11% to $1,808.93.