A stronger dollar and rising oil prices will likely lead to a weekly decline in gold prices.

On March 13, Friday, New York gold futures fell below $5,100 per ounce, poised for a weekly decline. A stronger dollar, rising oil prices, and uncertainty surrounding Federal Reserve policy weighed on gold prices. ANZ analysts stated, "The dollar strengthened due to its safe-haven status, particularly as rising oil prices benefited the US, a net energy exporter. Growing market concerns about the Fed's interest rate path, coupled with rising oil prices, increased the likelihood of renewed inflationary pressures." (Jinshi)