Gold dips as rate hike fears grow

Gold prices declined at the end of the week due to heightened expectations of interest rate hikes by the Federal Reserve following strong US employment data, which showed an addition of 162,000 jobs in August—far exceeding expectations—while the unemployment rate remained steady at 4.1%. This led to an increase in the value of the dollar and market interest rates, reducing gold's appeal since it doesn't generate income. As a result, the price per ounce dropped to around $4,419. Investors expect next week's gold trends to be influenced by US inflation data, as rising inflation could pressure the Fed to raise interest rates again, while declining inflation might support gold if the data indicate a slowdown in costs.

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