Gold prices extended their losses on Friday, weighed down by stronger-than-expected US economic data and easing geopolitical tensions with Iran. Spot gold fell 0.5% to $4,590 an ounce. However, gold is still on track for a roughly 2% gain this week, having reached a record high of $4,642.72 an ounce on Wednesday. Julius Baer analyst Carsten Menke said, "The previous rally was strong, but it seems to have weakened... Recent US economic data has provided some headwind rather than support, which is reflected in the stronger dollar." Geopolitically, Iranian sources interviewed by foreign media on Wednesday and Thursday indicated that protests appeared to have subsided since Monday. Meanwhile, Indian gold demand remained weak this week due to prices hitting new record highs, with retail buying activity suppressed. (Jinshi)