Gold prices held steady Friday, but a weekly dip was likely as soaring oil prices fueled inflation concerns, impacting interest rate expectations. Meanwhile, geopolitical tensions in the Strait of Hormuz and a significant drop in India’s gold imports due to tax issues also played a role in the market’s movements.
Fed’s Beth Hammack and Thomas Barkin favour gradual rate hikes as inflation stays high
Two officials from the Federal Reserve have supported modest and steady interest rate increases to combat high inflation. They believe these adjustments should minimize disruptions
November 5, 2026