Gold ticks lower, heads for weekly losses

Gold prices declined today, May 12, amid market absorption of the possibility of keeping the interest rates unchanged in the next Fed meeting.

Gold futures for June delivery declined 0.35% to $2,013.20 an ounce at 09:30 am Makkah time, heading for weekly losses of around 0.60%.

Silver futures for July delivery were down 1.25% to $24.12 per ounce, recording weekly losses of 6.85% so far.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, kept flat at 102 points.