India, Oct. 23 -- Gold held steady on Friday but headed for its steepest weekly loss in over four months as a result of rising oil prices and higher-for-longer interest rate expectations.
Spot gold was little changed at $4,023.55 an ounce, after having reached its lowest level since July 20 earlier in the session.
The precious metal has fallen 3.5 percent so far this week, keeping it on track for its worst week since June. U.S. gold futures were down 0.6 percent at $4,037.30.
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