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Gold set for first weekly gain in five weeks after U.S. data

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - Gold was on track for its first weekly rise in five weeks on Friday after weak U.S. inflation undermined the case for interest rate rises, pushing the dollar and U.S. bond yields lower. Underlying inflation in the United States remained muted in September despite a surge in gasoline prices after hurricanes disrupted production in the Gulf.The data came after minutes from the last U.S. Federal Reserve meeting released this week showed policymakers remained divided on U.S. inflation prospects.Markets were pricing in an 82 percent chance of a December rate hike, ...

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First Published: Fri, October 13 2017. 21:25 IST