Gold climbed 1.2% to $4,390.11 an ounce on Sept. 18, reaching a one-week high and heading for its first weekly gain in four weeks as lower oil prices reduced concerns about prolonged inflation. U.S. gold futures settled 0.6% higher at $4,424.90, while silver, platinum and palladium also advanced and were on track for weekly gains. Brent crude fell for a third consecutive session as concerns about Saudi supply disruptions eased, although the risk of a Middle East supply shock remained. The dollar reached a more than seven-week high, making gold more expensive for overseas buyers. The Federal Reserve raised rates by 25 basis points to 3.75%-4% and indicated further increases, while traders priced a 55% chance of another hike in October. The Bank of Japan also lifted rates to a 31-year high. Indian gold demand remained subdued as buyers awaited lower prices, while Chinese premiums held steady on strong investment demand. EverBank’s Chris Gaffney said gold was testing resistance near $4,400-$4,440 and that a break above it could open a path higher.