Fed rate hike worry pushes gold to its worst weekly performance since December

London (Mar 3)  Gold slipped on Friday, after falling more than 1% in the previous session and is on its way towards its first weekly decline since late January.
 
Spot gold dipped 0.2% to $1,232.81 per ounce at 0309 GMT. While, US gold futures jumped 0.2% to $1,234.9.
 
On Thursday, ABM Amro lifted its year-end gold price forecast by $200 to $1300.
 
According to Commerzbank, setback in prices should be limited, because of uncertainty in French elections and Donald Trump’s policies.
 
Meanwhile, SPDR Gold Trust holdings jumped 0.2% to 845.32 tonnes whereas, Spot silver stood stable at $17.78, after slipping 3.5% to touch a 3-week low of $17.64 on Thursday.

Source: HFL