Singapore, May 01 (QNA) - Gold prices were largely steady on Friday but remained on track for a weekly loss amid mounting inflation concerns and expectations that interest rates will stay higher for longer.

In spot trading, gold fell 0.1% to $4,614.98 per ounce, heading for a weekly decline of about 2% after hitting its lowest level in a month on Wednesday.

US gold futures for June delivery also slipped 0.1% to $4,626.40.

Among other precious metals, silver rose 0.4% in spot trading to $73.99 per ounce, while platinum fell 0.2% to $1,981.25, and palladium edged up 0.1% to $1,525.36. (QNA)