Gold prices fell over 1% on Friday as the dollar held close to two-week highs after U.S. inflation data came in line with expectations, suggesting the Federal Reserve may adopt a cautious stance on additional rate cuts.

The latest developments on the tariff front weighed on investor appetite and helped drive volatility higher across asset classes.

Gold prices eased on Friday, and were set to post their biggest weekly drop since November 2024, while investors awaited key U.S. inflation data.

Gold prices fell over 1% on Friday as the dollar held close to two-week highs after U.S. inflation data came in line with expectations, suggesting the Federal Reserve may adopt a cautious stance on additional rate cuts.

Gold futures tumbled Thursday to their lowest in nearly three weeks as the U.S. dollar strengthened and U.S. Treasury yields rose, after President Trump confirmed the launch of 25% tariffs against Canada and Mexico next week and raised the prospect of fresh levies on China.

President Donald Trump said he wants to offer a “gold card” visa for investors willing to pay $5 million to become a citizen in the United States. Commerce Secretary Howard Lutnick said the so-called “gold card” would replace the EB-5 visas starting in two weeks.

The latest on Donald Trump's proposed "Gold Card," which would offer immigrants a path to citizenship in exchange for $5 million.

WASHINGTON >> President Donald Trump said on Tuesday he wants to begin selling gold cards for $5 million to foreigners who want to move to the U.S. and create jobs.