Gold price heads for weekly loss as DXY surges above 100.00
XAU/USD falls 0.7% to $5,032, set for weekly losses exceeding 2%.
DXY climbs to 100.43 while US 10-year yield rises near 4.29%.
US Q4 GDP revised down to 0.7% as Core PCE holds steady at 3.1% YoY.
Gold price loses some 0.70% on Friday. It seems poised to end the week with losses of more than 2% as the Greenback remains the choice for safety amid the Middle East conflict, which has increased investors' angst over a reacceleration of inflation. Also, a softer-than-expected reading of US growth data increased the chances of a rate cut in 226.
Bullion slips below $5,050 as rising yields, Middle East tensions boost demand for the US Dollar
The XAU/USD trades at $5032 after reaching a daily high of $5,128. The US Dollar Index (DXY), which tracks the performance of the American currency against other peers, is up 0.70% at 100.43 a headwind for Bullion prices.$XAU