Mubasher: Gold prices declined on Friday amid rising fears that US Federal Reserve may increase interest rates.
By 10:10 GMT, London Stock Exchange saw a slide in Spot gold price by 0.3% to $1221.45 per ounce.
Gold futures also fell by 0.2% to 1220.3 per ounce.
The US Federal reserve is likely to hike interest rates in the coming two months.
“There are good reasons to think that underlying growth is stronger than these recent readings suggest," said Federal Reserve Governor Jerome Powell, adding "If incoming data support these expectations, I would see it as appropriate to continue to gradually raise the federal funds rate."
