Gold slumps 1% on way to weekly decline with Fed outlook in focus

GOLD prices slid on Friday as the dollar rose, on course to a weekly loss, while investors remained focussed on whether the U.S. Federal Reserve would pause its tightening cycle after delivering one more rate hike next month.

Spot gold was down 1% at $1,984.89 per ounce, as of 0725 GMT, after rising 1% on Thursday. Bullion has lost about 0.9% so far this week, its biggest weekly decline since late February.