New York:Gold prices fell by 1 percent in trading today, influenced by economic data that strengthened the dollar and treasury yields.

According to Federation of Arab News Agencies, spot gold slipped about 0.3 percent to $4,047.36 per ounce, following a session low of $4,033.29 earlier in the day.

Despite today's decline, spot gold has increased by 5.2 percent this week, marking its best weekly performance since late August. Meanwhile, U.S. gold futures for December delivery saw a decline of 0.9 percent to $4,074.90.

Among other precious metals, spot silver rose 0.8 percent to $52.18 per ounce, and platinum increased by 1.6 percent to $1,541.42. Palladium, however, fell by 0.6 percent to $1,024.59. Nonetheless, all three metals are on track for weekly gains.