Gold Rises More Than 1%, Fed Outlook in Focus
Gold rose more than 1% on Friday, helped by a softer US dollar and lower oil prices, while market players weighed lingering inflation concerns and the outlook for Federal Reserve interest rates. Spot gold rose 1.4% to $4,190.57 per ounce by 0630 GMT after hitting a two-month low on Wednesday. Prices headed for a weekly gain. US gold futures for December delivery gained 1.4% to $4,215.30, Reuters reported. The dollar rally took a breather, making greenback-priced bullion more affordable for holders of other currencies.
