Forex
Gold Hovers Near $4,315 as Oil Prices Fuel Rate-Hike Bets
Gold prices held steady near $4,315 an ounce on Friday as surging oil prices and the latest US inflation report bolstered bets for a Federal Reserve interest rate hike next week.
The precious metal was little changed after dropping 1.8% in the previous session to its lowest level since early August, according to Bloomberg Terminal data.
The US producer price index rose 0.4% last month, the most since May, reflecting growing pressure from higher energy prices due to escalating fighting in the Middle East.