Singapore, September 25 (QNA) - Gold prices fell in Asian trading on Friday, heading for a weekly decline under pressure from a stronger dollar and growing expectations that the Federal Reserve (the US central bank) will keep interest rates high for longer to combat inflation.

Spot gold fell 0.2 percent to $4,270.40 per ounce, down more than 2 percent so far this week, while US gold futures rose 0.2 percent to $4,304.80.

Among other precious metals, spot silver fell 0.5 percent to $63.58, platinum held steady at $1,749.61, and palladium dropped 1.3 percent to $1,257.70.

The dollar is on track for weekly gains, making dollar-denominated metals more expensive for holders of other currencies.

Gold is typically viewed as a hedge against high inflation, but rising interest rates dampen demand for the metal by boosting the appeal of yield-bearing assets. (QNA)