Gold Slides Weekly 2.5% as Oil Rises

Spot gold rose 0.3% to $4,710.57/oz, but weekly down 2.5% as oil prices surged and dollar weakened.
U.S. and Iran scheduled a second round of peace talks in Pakistan, prompting a weaker dollar and risk‑on equity buying.
Analysts warn rising oil and broader inflation pressures could push central banks to keep interest rates higher for longer, hurting gold.
U.S. envoy Steve Witkoff and Jared Kushner to travel to Pakistan for talks, per White House press secretary Karoline Leavitt.