Gold Prices Set for Weekly Drop Amid Fed Rate Hike Speculation

• Gold prices were steady on Friday but down 0.7% for the week.
• Spot gold was down 0.1% at $4,165.12 per ounce by 02:07 p.m. EDT.
• US gold futures for December delivery settled 0.3% higher at $4,181.10.
• Traders are assessing the prospect of further Federal Reserve rate hikes.
• The drop follows a run of hotter-than-expected US inflation data.