Baghdad / Obelisk: The price of gold rose, on Friday, but it is on its way to record the largest weekly decline since mid-November, after the Federal Reserve (the US Central Bank) indicated the need for more interest rate hikes to curb inflation.
Gold in instant transactions rose 0.6 percent to $ 1787.88 an ounce by 1453 GMT. The precious metal is down about 0.5% so far this week, after hitting a one-week low in the previous session.
And US gold futures increased 0.4 percent, recording $ 1,794.30.
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