Gold Falls as Rising Energy Prices Boost Expectations of Higher U.S. Interest Rates
Gold prices extended their decline on Friday as escalating tensions in the Middle East pushed energy prices higher, strengthening expectations that the U.S. Federal Reserve may keep monetary policy tighter for longer to contain inflation. Spot gold fell as much as 0.7% to around $4,020 per ounce, following a 2% decline in the previous session….