(RTTNews) – Gold prices fell on Friday and posted weekly losses on uncertainty over US-Iran peace talks and concerns about a Fed rate hike. Spot gold slipped 0.2 percent to $4,465.13 an ounce and was down about 1.6 percent this week. US gold futures were down 0.3 percent at $4,490.32 on inflation and interest rate concerns.
The dollar steadied and was set for a small weekly gain ahead of the US non-farm payrolls report later in the day, with employment growth expected to show some moderation in May after two consecutive months of strong gains.
On the geopolitical front, despite ceasefires and diplomacy, the US-Iran-Israel conflict remained unresolved.
Hezbollah rejected the latest ceasefire agreement between Israel and the Lebanese government, saying an “imaginary ceasefire” would mean “surrender, defeat and achieving the enemy’s goals”.
Elsewhere, Israeli ministers also abstained from approving a proposed ceasefire arrangement during a security cabinet meeting.
Prime Minister Benjamin Netanyahu told ministers, “Hezbollah opposes it, and so I am not bringing it up for a decision. If it is agreed to, I will bring it up for your approval.”
Meanwhile, Israel Defense Forces (IDF) removed Abed Harb, commander of Hezbollah’s engineering unit, escalating tensions and throwing the future of the ceasefire into the abyss.
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