Gold Prices Climb Amid Rate Hike and Lower Oil Prices

The price of gold rose in a busy week, but did not reach record levels. According to the Elko Daily Free Press, spot gold prices in New York closed at $4,377.70 per ounce on Friday, up $37 from the previous day.

This increase was likely due to the U.S. Federal Reserve's rate hike and lower oil prices. However, gold prices are still hundreds of dollars below the record highs seen earlier this year.

Barrick Mining, a major mining company, saw its share price decline despite the rise in gold prices. The company's stock moved down as investors may be concerned about the impact of higher interest rates on the mining industry.