Gold prices fell on Friday (28/2) and were set to post their biggest weekly decline since November on a stronger dollar, while investors awaited key U.S. inflation data for clues on the direction of Federal Reserve monetary policy.
The dollar index, meanwhile, was set for a weekly gain of 0.7%, making dollar-priced gold more expensive for foreign buyers. In addition, IG market strategist Yeap Jun Rong said. "Although gold is considered a safe asset, uncertainties on the trade front may still cause profit-taking to spread further, amid a stronger U.S. dollar,"
Gold price when this news was released was at $2,860
Source: Newsmaker.id
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