Gold extended losses on Friday after falling 2% in the previous session, as Brent crude’s move back above $100 a barrel stoked inflation concerns and strengthened the case for higher interest rates ahead of a Federal Reserve policy meeting next week. Spot gold eased 0.5% to $4,027.54 per ounce by 0523 GMT, with prices down more than $130 from a two-week high hit on Wednesday. US gold futures for August delivery were 0.5% lower at $4,029.60. Bullion was still on track for a small weekly gain of 0.3% though. “In the short term, we expect more volatility… gold has been trading between $3,980 all the way to about $4,170 ... (full story)