Gold slipped on Friday, as a see-saw session in oil kept inflation worries alive ahead of key U.S. October jobs data, though the metal was still ?headed ?for its strongest week in more than two months.
Spot gold fell 0.3% to $4,076.91 U.S. an ounce, but was up 5% for the week. U.S. gold futures for December delivery dropped 0.6% to $4,088.
Two Federal Reserve officials on Thursday backed small, steady rate increases ?to rein in above-target inflation.
Traders currently see a 64% ?chance that the Fed will raise rates in December.
Goldman Sachs on Thursday lowered its end-2026 gold price forecast ?to $4,150 per ounce from $4,650, citing the implications ?of the U.S. Fed’s more hawkish policy stance in recent months.
Lower gold prices encouraged Indian retail buying ahead of the key Diwali festival. Gold had dropped to a one-year low of $3,869.85 an ounce on October 30.
Among other metals, spot silver fell 0.6% to $52.08 U.S., platinum dipped 1% to $1,531.92 U.S. and palladium was little ?changed at $1,029.87 U.S.. All three were poised for weekly gains.
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