Gold eases as oil-led inflation worries weigh on prices
In short
Spot gold fell 0.6% to $4,063.39 an ounce at 0248 GMT. US December gold futures dropped 1% to $4,072.90, even though gold was still up 4% for the week.
Higher oil prices raised inflation worries, and traders were also waiting for US payrolls data. That can affect gold buying and the next move in prices.
What the reporting says
Spot gold fell 0.6% to $4,063.39 an ounce at 0248 GMT, while US December gold futures dropped 1% to $4,072.90. The decline came as higher oil prices fed inflation worries, even though gold was still up 4% for the week. Traders were also watching US payrolls data, which could influence demand for the metal.
Why it matters
Spot gold fell 0.6% to $4,063.39 an ounce at 0248 GMT, and US December futures slipped 1% to $4,072.90. Traders were also awaiting US payrolls data, which often influences precious-metals trading.