Gold falls for fourth session as oil rise fuels inflation worries

Gold prices fell for a fourth consecutive session Wednesday as climbing oil prices stoked inflation concerns before the US Federal Reserve meeting.

• Spot gold fell 0.25% to $4,115.35 per ounce, with December futures down 0.2% to $4,136.20.
• Oil prices rose more than $1 amid concerns over Middle East supply and Red Sea shipping risks.
• In Egypt, the 21-carat gold gram fell to 6,270 EGP mid-session after opening near 6,290–6,320 EGP.
• Silver dropped 0.9% to $57.44 per ounce, platinum lost 0.6%, and palladium slipped 1.1%.
• In Egypt, 24-carat gold fell about 20 pounds to 7,165 EGP per gram during Wednesday trading.
• 21-carat gold traded at 6,285 EGP per gram, with local manufacturing costs adding 100–200 pounds.
• The Egyptian Exchange published its indicative 24-carat gold price at 7,199 EGP bid and 7,253 EGP ask.
• Mid-session trading saw 21-carat gold fall to 6,260 EGP, with 18-carat at 5,365 and 24-carat at 7,154 EGP.
• The Egyptian Exchange's published rates priced the gold pound at 50,768 EGP for the day.
• Gold in Egypt rose about 30 pounds by Wednesday evening, with 21-carat at 6,300 EGP and 24-carat at 7,200 EGP, Nadi Naguib told Masrawy.
• The gold pound coin traded at 50,400 EGP and a 10-gram bullion bar at about 72,000 EGP.
• Globally, gold rose 0.06% to about $4,127 per ounce, according to Bloomberg data.