Gold rises on weaker dollar as inflation data cements rate-hold bets

On Friday, gold prices moved upward, signaling a positive outlook for the week. The precious metal received a boost from a weaker dollar and stable inflation figures, reducing the likelihood of an upcoming interest rate hike by the Federal Reserve. Meanwhile, oil prices also showed weekly gains, influenced by escalating tensions in the Strait of Hormuz. Precious metals such as silver and platinum followed suit, while palladium experienced a decline.