Gold Falls 0.6% as Oil and US Inflation Bolster Fed Hike Bets
Spot gold was down 0.6% at $3,997.39 per ounce by 0255 GMT on Friday. Higher oil prices and robust US inflation data strengthened the case for another Fed rate hike later this year.
By Sukanya MitraGold slipped on Friday as higher oil prices spurred inflation concerns and robust US inflation data strengthened the case for another Federal Reserve rate hike later this year.Spot gold TVC:GOLD was down 0.6% at $3,997.39 per ounce by 0255 GMT, while US gold futures TVC:GOLD for Dec…