Gold eases as higher oil prices heighten inflation concerns ahead of Fed meeting

Firmer oil prices heightened inflation concerns as gold eased on Oct. 20, Reuters reported. Its 0621 GMT snapshot put spot gold and December U.S. gold futures down 0.3% each, not at their closing prices. Reuters explained that higher rates tend to diminish gold’s appeal, while traders largely expected the Fed to leave rates unchanged at its Oct. 27-28 meeting.