Doha: Gold prices declined on Friday and were headed for weekly loss amid a slight uptick in dollar, while investors awaited key US inflation data. Spot gold was down 0.4% at $3,303.51 an ounce. Bullion is down 1.6% so far this week. US gold futures fell 0.5% to $3,300.70. The dollar index rose 0.2%, making gold more expensive for overseas buyers.
According to Qatar News Agency, the US personal consumption expenditures (PCE) report, due later today, may provide further insight into the Federal Reserve's policy trajectory. Non-yielding bullion tends to benefit in low-interest-rate environments. Spot silver fell 0.7% to $33.1 an ounce, platinum was down 0.6% to $1,076.33 and palladium dropped 0.5% to $968.79.