Gold Nears a Three-Month Low as Oil Prices and Inflation Concerns Weigh on Markets

Gold prices edged higher on Friday after falling to their lowest level in more than three months, but the metal remained on track for a second consecutive weekly decline. Spot gold reached approximately $4,030.67 per ounce as rising oil prices fueled inflation concerns and strengthened expectations that US interest rates could remain elevated for longer. Investors are closely watching upcoming Federal Reserve decisions for further direction.