Strong consumer price data reinforced expectations the Fed will raise interest rates to fight inflation, as oil prices fell and Wall Street ended higher.
Around 7:30 AM on September 14th, Vietnam time, the spot gold price fell 0.2% to $4,339.96 per ounce, marking its third consecutive weekly decline. Gold prices were pressured by inflation and expectations of a Fed interest rate hike. Gold was heading for a consecutive weekly decline ahead of the US release of inflation data. Gold fell more than 1% due to rising US inflation and escalating oil prices.