The gold with the biggest loss last week since the beginning of the year

Gold fell on Friday, focusing on its biggest weekly decline since the beginning of the year, following the rise in the dollar. The US currency rose from its three-year low two weeks ago as a result of higher interest rates on US government bonds.
The spot price of gold fell 0.1% to 1 330.5 dollars per ounce, which was its fifth consecutive losing session of six sessions. The precious metal futures are traded without substantial change at a level of $ 1,332.90 per ounce.
The spot price lost 1.4% of its value this week, or the biggest weekly decline since early December. This happened after the failed resistance break at $1,360 per ounce.
Stock market volatility rose substantially this month, largely contributing to the appreciation of the metal. However, expectations for higher inflation and three interest rises, respectively, had a negative impact on gold and supported the US dollar.
On the physical market, gold purchases were weak after the Chinese New Year passed, commented more market observers.