Gold Edges Higher as Oil Prices Fall and Dollar Remains Subdued

The price of gold inched higher on Friday as lower oil prices and a subdued US dollar provided support.

Spot gold was up 0.3% at $4,352.60 per ounce, while US gold futures for December delivery were down 0.2% at $4,391.60.

The Federal Reserve's decision to raise interest rates on Wednesday and flag more hikes in the coming months had a mixed impact on gold prices.

Goldman Sachs maintained its end-2027 gold price forecast of $5,400 per troy ounce, citing tighter policy as likely to slow bullion's rally but not derail it.