Beirut: Gold prices rose more than 1% on Friday, supported by renewed buying, but remained on track for a fourth consecutive weekly decline. Spot gold increased 1.1% to $4,428.30 per ounce as of 02:28 GMT, though it has fallen about 1.3% since the start of the week. U.S. gold futures for April delivery also rose 1.1% to $4,423.40 per ounce.
According to National News Agency - Lebanon, despite the rebound, gold has dropped about 17% over recent weeks, weighed down by a stronger dollar, which gained more than 2% over the same period. The strengthening dollar has put pressure on gold prices, impacting the market dynamics significantly as investors navigate the shifting economic landscape.