Gold prices fall on hawkish Fed and strong economic data.

Gold prices fell sharply on Friday and were headed for their worst week in eight as hawkish remarks by U.S. Federal Reserve officials through the week bolstered bets for at least one more interest rate hike and buoyed the dollar. Bullion has shed about 1.2% so far this week, pressured by the dollar's gains overall, which made bullion more expensive for overseas buyers. Platinum surged 2.7% to an over one-year high at $1,122.80, while palladium gained 1.1% to $1,604.74, on track for its best week since November.