Gold prices slip as US inflation data raises Fed uncertainty
Gold prices slipped 0.4% to $4,152.99 an ounce on Friday, after a jump the day before.
Investors are rethinking their moves as fresh US inflation data sparks questions about where the Federal Reserve is headed next.
Meanwhile, gold futures for December ticked up just a bit.
US producer prices fuel December bets
US producer prices just saw their biggest jump in 4-1/2 years, making more people bet on upcoming interest rate hikes from the Fed: There is now a 93% chance of an increase in December.
While gold usually gets attention during inflation, higher rates can actually make it less appealing.
Silver platinum palladium face weekly losses
It wasn't just gold: Silver dropped 0.6%, platinum dipped slightly, and even palladium's tiny gain couldn't stop all three from heading for weekly losses.
The trend points to all three metals heading for weekly losses overall.