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Business / World Business

Gold set for worst week in more than 2 months

Published: 02 May 2025 - 09:44 pm | Last Updated: 02 May 2025 - 09:45 pm
Peninsula

QNA

New York: Gold prices were poised for their worst weekly performance in more than two months on Friday as receding trade tensions tempered safe-haven demand, while the market's focus shifted to the US non-farm payrolls report, due later in the day.

Spot gold was steady at $3,240.34 an ounce. The metal has lost more than 2% so far this week, the steepest weekly fall since late February.

US gold futures rose 0.8% to $3,248.80.

Spot silver rose 0.2% to $32.47 an ounce, platinum firmed 0.8% to $966.08 and palladium gained 0.3% to $943.50.