Gold slips 0.6% to $3,997.39/oz as higher oil, US inflation data bolster Fed hike bets

[WAM] Gold slipped on Friday as higher oil prices spurred inflation concerns and robust US inflation data strengthened the case for another Federal Reserve rate hike later this year, according to Reuters. Spot gold was down 0.6 percent at $3,997.39 per ounce by 0255 GMT, while US gold futures for December also fell.