Gold prices rise amid growing inflation concerns
12:12, 29 May 2026
Gold edged higher on Friday amid growing concerns over inflation and US interest rate hikes, WAM reports.
Spot gold rose 0.3 percent to 4,505.57 US dollars per ounce by 04:22 GMT, but was down about 0.1 percent for the week so far. US gold futures inched 0.1 percent higher to 4,535.90 US dollars.
Spot silver was steady at 75.61 US dollars per ounce, while palladium gained 0.5 percent to 1,375.63 US dollars, with both metals heading for a weekly gain.
Platinum lost 0.4 percent to 1,914.95 US dollars and was on course for a weekly loss.
On Tuesday, gold prices fell, as rising oil prices fuelled concerns around inflation and higher-for-longer interest rates.
