Gold slips as oil prices advance, Fed rate-hike voices grow

Spot gold slipped 0.4% to $4,000.55 per ounce after posting a 2.5% weekly loss, pressured by a 3% jump in oil prices that pushed Brent above $90 a barrel and growing hawkish voices at the US Fed calling for rate hikes to counter persistent inflation. US consumer sentiment rose to a five-month high in July, though analysts flagged the gain as likely temporary given Middle East tensions. In India, gold discounts widened to a one-month high on weak jewellery demand, while COMEX speculators raised net long positions by 4,294 contracts.