Gold logs sharpest weekly fall since June amid rate expectations
Business
Gold just had its sharpest weekly fall since June, dropping 3.4% to $4,018.69 an ounce.
The main reason? Strong US job numbers and rising oil prices have investors expecting interest rates to stay high, making gold less appealing right now.
US job strength pressures gold
With unemployment claims at near 57-year lows, the US job market looks solid, so people are betting on other investments instead of gold.
Plus, oil prices are up about 4% due to global tensions, adding more pressure.
Everyone's waiting for the Federal Reserve's meeting next week and new spending data to see what happens next with rates and markets.