Gold heads for weekly decline as Fed rate hike expectations rise

Spot gold is up 0.3% at $1,829.06/oz but is set for a nearly 2% weekly decline, driven by rising expectations of further Federal Reserve rate hikes. The move reflects a shift in market pricing toward tighter monetary policy, which typically pressures non-yielding assets like gold. The trend suggests growing market conviction in a hawkish Fed stance, though the exact timing and magnitude of future hikes remain uncertain.