Gold heads for weekly loss as rate-hike bets weigh

Spot gold held near $4,122 an ounce as renewed expectations of interest rate increases pushed prices toward a weekly decline of more than 1%.

Staff Writer

July 10, 2026

Article summary

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Spot gold held near $4,122 an ounce as markets reassessed inflation risks and renewed rate-hike expectations pushed prices toward a weekly decline of more than 1%. Silver, platinum, and palladium are also heading for weekly losses.

Key points

Spot gold held at $4,122.09, heading for over 1% weekly loss
US August gold futures fell 0.2% to $4,131.50
Silver, platinum, and palladium also tracking weekly declines

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Gold prices were little changed at the open as markets continued to weigh inflation risks, with fresh expectations of higher interest rates dragging bullion toward its first weekly loss in recent sessions.

Spot gold held at $4,122.09 per ounce, on course for a weekly decline of more than 1%. US August gold futures slipped 0.2% to $4,131.50.

Other precious metals were also under pressure. Spot silver edged down 0.1% to $59.94 per ounce, while platinum rose 0.2% to $1,614.22 and palladium gained 0.4% to $1,252.75. All three metals are tracking weekly losses.