Gold heads towards its first weekly decline in a month

Gold is heading to record its first weekly decline in a month after the dollar received support due to the decline in expectations of a sharp and early cut in US interest rates this year.

According to Reuters, gold rose in spot transactions today by 0.1% to $2,054.10 per ounce, but it fell approximately 0.8% since the beginning of the week after three consecutive weekly gains. US gold futures increased 0.2% to $2,053.00 per ounce.

In other precious metals, silver rose in spot transactions 0.6% to $23.13 per ounce, while platinum fell 0.3% to $953.61. Palladium rose 0.7% to $1,044.23 after a decline that lasted 8 sessions.