However, the inflation rate still exceeded analyst expectations, a dynamic that will likely keep the Federal Reserve on its current path to hike interest rates aggressively. The yield on the 10-year US Treasury note, a proxy for interest rates, rose closer to four percent.
Gold heads for sharpest weekly decline in four months on Fed rate outlook
Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest