International gold and silver prices fell on Friday, pressured by rising energy costs that fueled inflation concerns, reinforced expectations of Federal Reserve interest rate hikes, and a stronger U.S. dollar.
On the New York Mercantile Exchange, gold futures for December delivery dropped 1.29 percent to settle at 4,007.90 U.S. dollars per ounce, while silver futures for December delivery declined 1.92 percent to close at 53.949 dollars per ounce.
Gold, silver futures close lower Friday
Eurozone consumers' inflation expectations for the year ahead edged up in September, while their outlook for economic growth and the labor market darkened, according to the latest Consumer Expectations Survey published by the European Central Bank (ECB) on Friday.
The survey showed that median expectations for inflation over the next 12 months rose to 3.1 percent in September from 3.0 percent in August. Medium- and longer-term expectations remained unchanged, with those for three and five years ahead at 2.9 percent and 2.5 percent, respectively.
Eurozone annual inflation has climbed steadily since June, reaching 3.8 percent in September -- a three-year high and well above the ECB's 2 percent target, according to data from the EU's statistical office Eurostat.
Meanwhile, expectations for economic growth over the next 12 months fell to minus 1.5 percent from minus 1.2 percent, and the unemployment rate consumers expect in a year's time rose to 11.3 percent from 11.0 percent, pointing to deepening concern about the growth and jobs outlook.
Eurozone consumers' inflation expectations in year ahead edge up
