Gold is reportedly set for its biggest weekly drop in several weeks, with various factors cited as contributing to the decline, including inflation and rate-hike worries, as well as an oil surge. However, there is some uncertainty, as one outlet reports that gold has gained due to hopes for US-Iran diplomacy cooling an oil price rally. The overall trend for gold appears to be downward, with some outlets also noting its potential for its worst quarterly loss in 13 years.