Gold stuck at a loss with this week rallies snapping at the end
Gold’s price (XAU/USD) faces a second day of losses under profit-taking while the weekly performance is still positive. The precious metal trades around $3,030 at the time of writing on Friday after reaching a fresh all-time high at $3,057 the previous day. This downside move should not come as a surprise with Quadruple Witching taking place. Quadruple Witching is an event in financial markets when four different sets of futures and options expire on the same day, and investors need to decide whether to sell and buy back their positions or just sell them.
Meanwhile, on the geopolitical front, tensions remain in Gaza and Turkey. Later during the day, markets will brace for comments on tariffs from United States (US) President Donald Trump, as announced reciprocal tariffs will come into effect on April 2 and might shake up markets.
Source: FXStreet