Dubai, UAE — Gold prices fell on Friday and were headed for a weekly loss, while major U.S. stock indexes rose as investors awaited SpaceX’s market debut.
Spot gold fell 0.5% to $4,191.17 an ounce by 0252 GMT and was on track for a weekly decline of 3.2%.
U.S. gold futures for August delivery rose 2.4% to $4,212.70.
Other precious metals were mixed. Spot silver fell 0.4% to $67.10 an ounce, while platinum rose 0.7% to $1,731.40. Both metals were headed for weekly losses. Palladium gained 1.6% to $1,289.33 and was up about 5% for the week.
Meanwhile, all three major U.S. stock indexes closed higher after President Donald Trump called off his threat to bomb Iran, easing concerns over a potential escalation in the Middle East.
The Dow Jones Industrial Average rose 1.86% to 50,848.75 points, while the S&P 500 gained 1.75% to 7,394.30 points. The Nasdaq Composite climbed 2.54% to 25,809.66 points.
Investors were also positioning for SpaceX’s market debut.
