Svmuu News: Driven by stronger-than-expected U.S. economic data and easing geopolitical tensions in Iran, gold prices extended their decline from the previous trading day on Friday, with bullish momentum under pressure. Spot gold is currently down 0.5% at $4,590 per ounce. However, gold prices are still on track to post a gain of about 2% for the week, having hit a record high of $4,642.72 per ounce on Wednesday. Carsten Menke, an analyst at Julius Baer, said: “ “The (gold market) had been on a strong upward trend, but that momentum appears to have weakened somewhat… Recent U.S. economic data has provided some headwinds rather than tailwinds, which is also reflected in the strengthening dollar. ” On the geopolitical front, Iranian sources interviewed by foreign media on Wednesday and Thursday indicated that protests appear to have subsided since Monday. Meanwhile, with prices hitting new record highs again, Indian gold demand remained sluggish this week, and retail buying enthusiasm was subdued. (Jin Shi)