Gold prices down 2nd week in row

London (Mar 11)  Gold prices has declined in the week ended last Friday, as the US Federal Reserve is expected to raise interest rates during its upcoming week on 15 March.

During last week, the price of the precious metal decreased by 2.02% to $1,200.70 per ounce, compared to $1,225.5 per ounce by the end of last week.

Meanwhile, the USD index, which measures the value of the United States Dollar relative to a basket of six major currencies, went down by 0.64% to 101.38 points.

It is worth noting that last week prices fell 2.5%, and closed at $1,2225.5 per ounce, down from $1,256.90 per ounce at the end of the week before.

Source: Mubasher