Gold ticks lower, set for slight weekly losses

Gold prices declined slightly today, April 28 amid a rise in the US dollar and ahead of the release of economic data that would provide clues about the future of US monetary policy.

Gold futures for June delivery declined 0.17%, or $3.4, to $1,995.6 an ounce at 10:40 am Makkah time. Meanwhile, spot prices edged down to $1,986.19 an ounce.

Silver futures for July delivery were up 0.14% to $25.25 per ounce.

Spot prices for platinum gained 0.61% to $1,077.35.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.22% to 101.72 points.

The US personal consumer spending data is expected to be released today, amid forecasts that it would rise 0.3%.

The Federal Reserve is forecast to increase the interest rate 25 basis points in its May meeting.