Gold slips to $4,150 as oil rises on US-Iran escalation concerns

  • Gold prices fell to around $4,150 an ounce Friday.
  • 75% probability of unchanged interest rates is priced for this month.
  • Oil prices rose as the US considered adding an aircraft carrier and 10,000 troops.

Gold prices fell to around $4,150 an ounce on Friday, putting the metal on course for a second straight weekly decline. Higher oil prices, driven by concerns that the US-Iran conflict could escalate, added pressure by raising the risk of energy-supply disruptions and renewed inflation. Gold also faced a stronger dollar and elevated Treasury yields as investors assessed recent Federal Reserve commentary and awaited the September US jobs report. The data could influence expectations for the central bank’s policy path. On Thursday, Fed Vice Chair Philip Jefferson said policymakers might need more time to decide whether further rate hikes are warranted. Markets are pricing in roughly a 75% probability that the Federal Reserve will leave interest rates unchanged this month.

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