Gold slips to $4,135 as US Federal Reserve weighs rates
Business
Gold prices have slipped lately, landing around $4,135 per ounce after a recent 0.6% drop.
Rising inflation worries and soaring oil prices, thanks to tensions in the Strait of Hormuz and political debates over U.S.-Russia diesel exports, are making things tricky for the US Federal Reserve as it decides what to do with interest rates.
Traders still expect year-end rate increase
The Fed's hint that interest rates might stay steady has made a rate hike less likely for now, but most traders still expect another increase by year-end.
A stronger US dollar and higher bond yields pushed gold down more than 6% last month, yet prices have mostly stayed above $4,100 in October.