Doha: Gold prices declined in Asian trading on Friday as investors awaited clues on the trajectory of US monetary policy. Spot gold fell 0.5 percent to $4,576.30 per ounce, after touching a three-month high earlier this week. US gold futures slid 0.8 percent to $4,629.00 per ounce. Gold is traditionally viewed as a hedge against inflation, though higher interest rates typically weigh on the non-yielding asset.

According to Qatar News Agency, other precious metals followed suit. Spot silver dropped 1 percent to $68.54 per ounce, palladium fell 0.8 percent to $1,339.84, and platinum lost 0.6 percent to $1,834.83, tracking toward a weekly loss.