Gold prices are heading for their second weekly loss

Gold prices fell on Friday, heading for their second consecutive weekly loss, as the market was affected by a slight rise in the US dollar and the easing of geopolitical tensions following the ceasefire between Israel and Iran. Meanwhile, investors awaited US inflation data for clearer indications on the path of US interest rates.

Spot gold fell 0.4% to $3,313.23 per ounce, down about 1.7% this week, according to Reuters.

US gold futures also fell 0.7% to $3,325.70 per ounce.