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Gold prices fell on Friday as oil recovered, inflation concerns resurfaced and the prospect of interest rates remaining high weighed on the market. Spot gold slipped 0.92% to $4,051.62 an ounce, while U.S. gold futures fell 1.34% to $4,058.40. Investors are awaiting the U.S. jobs report, while the odds of a rate hike in December have reached 68%. Despite Friday’s decline, gold is on track for its best weekly performance since late August. Goldman Sachs lowered its year-end gold price forecast to $4,150 an ounce. The market has been supported by purchases from central banks and official institutions, which totalled 321 tonnes in the third quarter, up 42% year on year.
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