BULLION:-
Gold edged higher on Friday, lifted by a weaker dollar, but gains were tempered by expectations of a U.S. rate hike later this month. pot gold XAU= was up 0.4 percent at $1,206.01 an ounce by 1000 GMT, having hit its highest since Aug. 28 at $1,212.65 on Thursday. It has risen 0.9 percent so far this week, on track for its first weekly gain in three. Gold has shown a close correlation to the currency of China, the biggest gold consuming nation, analysts say. Investors widely expect another 0.25 percentage point interest rate hike when the U.S. central bank meets on Sept. 25-26, and there is a strong chance of another increase in December. rates make gold less attractive since it does not pay interest but costs money to store and insure.
ENERGY:-
Oil rose on Friday, clawing back some territory after prices fell by the most in a month in the previous session, as the focus returned to supply concerns ahead of a November deadline for U.S. sanctions on Iranian crude. Price rises were capped after U.S. Energy Secretary Rick Perry said Saudi Arabia, other members of OPEC and Russia were to be admired for trying to prevent a spike in global oil prices. think the oil market will have another go at pushing Brent above $80 a barrel," Harry Tchilinguirian, oil strategist at French bank BNP Paribas. The United States is renewing sanctions on Iran after withdrawing from a nuclear deal forged in 2015 between Tehran and world powers.
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