Gold settles lower as U.S. producer prices rise
Gold futures declined after U.S. producer price inflation picked up in August, raising expectations of a Fed rate increase next week. The piece also cited Middle East conflict escalation as supportive for oil prices.
S. producer price inflation in August lifted expectations for a Fed rate increase next week. The move came as conflict escalation in the Middle East pushed oil prices higher. "Gold faces a combination of negative factors, driven mainly by the lack of a near-term horizon fo…"