Gold posts gains for week 6, focus on Federal Reserve meeting

Gold prices fell marginally on Friday’s session on the rising US dollar, while the precious metal recorded gains for the sixth consecutive week before the Federal Reserve (Central Bank of the United States) decision on interest next week.

Spot gold fell 0.06% to $1,928 an ounce but trimmed its gains earlier in the session after data showed US consumer spending eased in December, though the personal consumer spending index increased by 0.3% on a monthly basis.

U.S. gold futures fell 60 cents to $1929.40 an ounce, while rising 0.06% on the week, continuing its gains for the sixth straight week.

Silver futures fell 1.66% to $23.62 an ounce, while platinum fell 0.6% to $1,015.74 and palladium lost 3.3%, posting 1,622 $.14 an ounce.