Gold prices on Friday were on track for their biggest weekly decline in over three years as expectations of less aggressive interest rate cuts by the U.S. Federal Reserve lifted the dollar, denting allure for bullion among investors.

Fed watchers see a greater chance the central bank may skip a rate cut at its last meeting of the year in December.

Gold futures ended lower Friday for the sixth straight session in the metal's sharpest weekly selloff in more than three years, driven by a strong U.S. dollar and reduced expectations for interest rate cuts following Donald Trump's election victory.