Gold falls below $4,350 as PPI and oil stoke Fed hike bets
Gold slid to near $4,320 in early Asian trading after US PPI data and higher oil prices strengthened expectations for Federal Reserve rate hikes.
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Spot gold came under pressure early Friday, falling below $4,350 and trading near $4,320 during the Asian session.
The decline followed the latest US Producer Price Index inflation report and rising oil prices, which together reinforced market expectations that the Federal Reserve will keep tightening rates.
Higher rate expectations tend to weigh on non-yielding assets such as gold.
Source: FXStreet Forex News