Gold softens on prospects of Fed rate hikes as Brent tops $100

Gold prices edged lower on Friday, impacted by rising crude oil prices. Inflation concerns and higher interest rate expectations are strengthening the case for rate hikes. U.S. Treasury yields reached their highest levels since January 2025. Traders are pricing in an 81% chance of a September rate hike. Other precious metals like silver, platinum, and palladium also saw declines.

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