Gold drops but stays on track for best week in over two months

MarketScreener · Reuters · 2026-11-06 12:34 UTC

Gold slipped on Friday as a see-saw session in oil kept inflation worries alive ahead of key US jobs data, though the metal was still headed for its strongest week in over two months. ...

Nov 6 (Reuters) - Gold slipped on Friday as a see-saw session in oil kept inflation worries alive ahead of key US jobs data, though the metal was still headed for its strongest week in over two months.

Spot gold fell 0.4% to $4,070.59 per ounce by 1124 GMT, but was up 5% for the week so far. US gold futures for December delivery dropped 0.8% to $4,080.70.

Brent crude climbed back towards $100 a barrel, after touching the mark earlier in the session, but was still set for a sharp weekly drop on expectations of a de-escalation in the US-Iran war after midterm election results. Persistent Middle East supply concerns, however, continued to support prices. [O/R]

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