Gold prices on Friday were on track for their biggest weekly decline in over three years as expectations of less aggressive interest rate cuts by the U.S. Federal Reserve lifted the dollar, denting allure for bullion among investors.

Gold traded near a two-month low, on course for its worst week since June 2021 as traders wind back expectations for a US Federal Reserve interest-rate cut in December.

The Fed rate cut could have a big impact on gold prices this week, but that impact may not be what you'd expect.

Gold advanced after suffering its worst weekly drop since 2021, as the US dollar given and traders weighed the outlook for Federal Reserve rate cuts given Donald Trump’s return to the White House next year.

Gold prices recorded the most significant weekly decline in over three years. According to Reuters, the decrease was due to diminishing expectations for further interest rate cuts by the Federal Reserve in the US,

Gold prices have recorded their largest weekly decline in over three years. According to Reuters, this decrease is due to the US Federal Reserve's diminishing expectations for further interest rate cuts,