US Inflation Data Supports Rate Hike Bets, Gold Prices Unchanged

The price of gold remained largely unchanged on Friday despite the release of US inflation data that suggested an interest rate hike by the Federal Reserve next week.

The Labor Department's Bureau of Labor Statistics reported a pullback in oil prices, which helped offset the impact of the inflation report.

The SPDR Gold Shares ETF (GLD) finished little changed on Friday as gold futures closed with minimal movement.