Gold Heads For Second Weekly Loss On Rate Rise Expectations

Gold Prices Slide Amid Rate Hike Speculations

This week, gold is on track to record its second consecutive weekly decline, as mounting expectations for rising interest rates, in response to ongoing inflation worries, put pressure on the precious metal. Traders are eyeing a possible increase in U.S. interest rates by December, while the upcoming Federal Reserve policy meeting is anticipated to maintain the current rate levels.