AI Summary
The precious metal has surged more than 20% since the onset of January
Gold futures fell sharply on Friday, but remained on track for a sixth consecutive monthly gain and the strongest monthly increase since 1980, unless losses deepen later in the session.
April gold futures, the most active contract, slid 4.1%, or $219.30, to $5,135.50 an ounce, after touching $5,145.80.
Spot gold fell 4.95% to $5,109.98 an ounce, while spot silver plunged 9.9% to $104.25 an ounce.
The dollar index, which measures the US currency against a basket of six major peers, rose 0.2% to 96.48 as of 11:49 a.m. Mecca time.
March silver futures dropped 9.35% to $103.72 an ounce, while spot platinum sank 10.75% to $2,364.75, and palladium fell 8.15% to $1,846.60.
US President Donald Trump said on Thursday he plans to announce his nominee to succeed Federal Reserve Chair Jerome Powell on Friday, amid growing speculation the pick could be Kevin Warsh, a former Fed governor.
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