As investors understood that rates would remain higher in the United States until the end of the year, the gold price fell for the second week in a row on Friday.

Spot gold fell 0.2% to $2,299.53 per ounce at 1032 GMT, and lost more than 1% this week. Prices fell by more than $130 after reaching a record $2,431.29 in April. US gold futures fell by 0.1% to $2,308.20

Bullion is considered to be a hedge against inflation, but high interest rates reduce the appeal of this inefficient asset.

Cash fell 0.6% to $26.53, heading for a weekly decline. Fawad Razaqzada, a market analyst at City Index, says in a note that if silver falls back to the 25-26 dollar breakout zone, a sign of a bullish reversal should follow. Platinum gained 1.6% to $964.39, rising by more than 5% since the start of the week. Palladium fell by 0.1% to 934.80