Gold and oil prices decreased in the international market in the early hours on Friday.
As per media reports, spot gold slipped 0.2 percent to $4,118.68 per ounce in early trade at 0315 GMT, while US gold futures for December delivery declined 0.3 percent to $4,133.40. The metal has lost about 3 percent so far this week, marking its steepest weekly fall since mid-May.
Silver followed gold’s lead, dropping 0.6 percent to $48.62 per ounce. The metal has tumbled about 6 percent this week, marking its worst performance since March.
Both metals remain under pressure as investors await clearer signals on global inflation and central bank policy, which are likely to set the tone for precious metals in the weeks ahead.
Oil prices slipped in early trade on Friday, giving up part of the strong gains from a day earlier but staying on course for their biggest weekly rise since mid-June. The market remained volatile as new US sanctions on Russia’s two largest oil producers raised fears of tighter global supply.
At 0200 GMT, Brent crude futures were down 54 cents, or 0.8 percent, to $65.45 a barrel, while US West Texas Intermediate (WTI) crude dropped 51 cents, or 0.8 percent, to $61.28. Both benchmarks had soared more than 5 percent on Thursday and were set for a weekly gain of around 7 percent.
