interest rate
Dollar index declined almost 0.6 percent this week, making gold more affordable for holders of other currencies
Brent crude futures for July delivery edged up 0.1 percent to $83.33 per barrel
U.S. consumer prices increased less than expected in April, which supported bullion
Brent oil futures for July delivery rose 0.5 percent to $83.17 per barrel
Losses from rate cuts to reach around $2.8 billion or 1.9 percent of GCC banks' total equity
Decline in inflation indicators could bode well for the precious metal
Stagflationary risks in the U.S. continue to support gold prices
Brent oil futures, set to expire in July, rose by 0.3 percent to reach $83.59 per barrel
U.S. employment data supported gold prices, which rose over 2 percent by the end of last week
Brent oil futures expiring in July fell 0.3 percent to $83.53 per barrel
Inflation rose to 69.8 percent in April, highest since late 2022
