GOLD DIPS FOR FOURTH SESSION AS OIL RALLY FANS INFLATION CONCERNS

What happened: Gold eased for a fourth session as higher oil prices stoked inflationary concerns, with investors looking ahead to next week's Federal Reserve policy meeting for clues on interest rates. Key numbers: Spot gold down 0.2% at $4,115.96 per ounce by 0717 GMT. Why it matters: Bas Kooijman of DHF Capital S.A. said the metal could remain under pressure as crude prices returned to the upside, reinforcing hawkish monetary policy expectations. Ilya Spivak of Tastylive said that if some rate hikes baked in for next year fall out of the forecast, that is likely to send gold higher.

Gold eased for a fourth session as higher oil prices stoked inflationary concerns, with investors looking ahead to next week's Federal Reserve policy meeting for clues on interest rates.

Bas Kooijman of DHF Capital S.A. said the metal could remain under pressure as crude prices returned to the upside, reinforcing hawkish monetary policy expectations. Ilya Spivak of Tastylive said that if some rate hikes baked in for next year fall out of the forecast, that is likely to send gold higher.