Gold steadies after three-month lows as oil rally fuels inflation worries
Gold steadied after touching a three-month low on Friday and remained on track for its steepest weekly loss since June. The report links higher oil prices to inflation concerns and expectations for Federal Reserve rates to stay higher for longer.
By Vishak MathewGold prices steadied after hitting a three-month low earlier on Friday but were on track for their steepest weekly loss since June, as rising oil prices fuelled higher-for-longer Federal Reserve rate expectations and pressured the non-yielding precious metal.Spot gold TVC:GOLD was a…