Gold Set for Weekly Drop as Traders Assess Fed Signals
Spot gold was down 0.1% at $4,165.12 per ounce and was on track for a weekly loss as traders weighed the prospect of further Federal Reserve rate hikes after hotter-than-expected US inflation data.
Gold prices were little changed on Friday and remained on course for a weekly decline. Traders assessed the possibility of further Federal Reserve rate hikes this year after a series of US inflation readings came in hotter than expected. Spot gold TVC:GOLD fell 0.1% to $4,165.12 per ounce by 02:07 p.m…