Gold is rising due to the decline in the dollar

Gold prices rose on Friday, due to the decline in the US dollar, but it is still heading towards incurring its first weekly loss in three weeks, affected by indications from officials of the Federal Reserve (the US central bank) that more interest rate hikes are on the way.
By 0433 GMT, spot gold rose 0.16 percent to $1,763.65 an ounce, heading towards a weekly loss of about 0.4 percent.
US gold futures rose 0.2 percent to $1,765.60 an ounce

And Fitch Solutions said in a note that gold continues to receive support from mounting recession fears, the ongoing Ukraine war and the rise of the US dollar.
Although gold is considered a hedge against inflation, higher interest rates and yields on Treasury bonds increase the opportunity cost of holding the non-interest-bearing precious metal.
As for other precious metals, silver rose in spot transactions 0.8 percent to $21.12 an ounce.
Platinum rose 0.5% to $984.48 an ounce. And palladium rose 0.7 percent to 2020.19 dollars an ounce. But all precious metals are heading towards ending the week lower.