Gold prices fall, on track for first weekly loss in 2025

Gold bars

Gold prices declined on Friday, heading for the first weekly loss since November 2024, on dollar strength and profit taking following the record highs of the precious metal on increasing concerns about Trump's customs agenda.

Gold futures for April delivery fell 0.7%, or $20.5, to $2,875.4 per ounce at 9:46 am Makkah time.

Gold spot prices dropped 0.45% to at $2,863.49 per ounce.

Meanwhile, silver futures for March delivery declined 1.12% to $31.75. Platinum spot prices lost 0.66% to $951.4.

This came after the dollar index, which measure the US currency against a basket of six other currencies, fell 0.2% to 107 points.

Investors are anticipating the release of the Personal Consumption Expenditures (PCE) Price Index for January, scheduled for today.

Economists expect that the overall PCE index fell 0.3% on a monthly basis and 2.5% on an annual basis, according to FactSet's consensus estimates.