Gold slips as US inflation data boosts rate hike bets
Gold prices fell on Friday as rising oil prices and strong US inflation data increased expectations of a Federal Reserve interest rate hike in December. Spot gold dropped 0.5 percent while other precious metals also declined.
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Gold fell 0.5% to $4,000.54 per ounce Friday morning as rising energy costs and firm economic indicators strengthened expectations for a Federal Reserve rate hike. The decline puts bullion on track for a second consecutive monthly loss.
