Singapore: Gold prices declined in Asian trading on Friday, as investors awaited the direction of US monetary policy. Spot gold fell 0.5 percent to $4,576.30 an ounce, after hitting its highest level in more than three months this week. US gold futures also fell 0.8 percent to $4,629.00.

According to National Iraqi News Agency, the decline in gold prices comes amid heightened investor scrutiny of potential changes in US monetary policy. This uncertainty has led to fluctuations in the value of precious metals, as market participants seek clarity on the future economic landscape.

Among other precious metals, spot silver fell 1 percent to $68.54 an ounce. Palladium dropped 0.8 percent to $1,339.84, while platinum declined 0.6 percent to $1,834.83, marking a trend towards a weekly loss. The movements in these markets indicate a cautious approach by investors as they navigate the evolving financial environment.