Gold fell on Friday and was on track for its first weekly decline, its worst since November, on growing expectations of a US rate hike as early as this month, Reuters reported. Spot gold dropped 0.3% to $1,231.31 per ounce after hitting a low of $1,229.05 earlier in the session. The metal has lost nearly 2.3% so far this week. US gold futures fell 0.1% to $1,231. Initial support for gold sits around $1,230, while below this it might move to the 100-day average of $1,210.
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