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Gold rises as softer oil eases inflation fears

Gold prices rose as declining oil prices eased inflation concerns and investors awaited crucial US economic data. Spot gold increased to $4339.46 per ounce.

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A view of smelted gold bars at a smelting facility in Accra, Ghana, August 22, 2024. REUTERS/Francis Kokoroko/

Gold rose 0.6% to $4,339.46 per ounce on Friday morning, trimming weekly losses as crude oil slipped. The recovery comes ahead of key United States inflation data that will shape the Federal Reserve's next policy move.
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