gold futures fell friday and were on track for a weekly decline as a 75 basis point interest rate rise by the federal reserve next month looked to be locked in the wake of higher than expected consumer price inflation in september in data published thursday   gold for december delivery gc00 gcz22 fell 1470 or 09 to 166210 an ounce on comex on track for a weekly decline of 28   december silver siz22 was down 193 cents or 1 at 18725 an ounce heading for a 76 decline   december palladium paz22 dropped 15 to 2086 an ounce while january platinum plf23 rose 23 to 90120 an ounce gold ended lower on thursday but off session lows in a whipsaw session that saw stocks snap back from sharp losses in volatile activity across financial markets after the september consumerprice index came in hotter than expected cementing expectations for a 75 basis point rise in the fedfunds rate in early november investors also penciled in a higher peak for interest rates as the fed battles stubborn inflation see why stocks scored a historic bounce after another hot inflation report “the inflation data was terrible for the yellow metal as it cemented a 75 basis point hike from the fed next month not just that with inflation seemingly so stubborn it may need to go further than markets previously anticipated” said craig erlam senior market analyst at oanda in a note “that doesn’t bode well for gold in the near term yesterday’s lows around 1640 could soon be tested once more with the lateseptember lows the next test after that” he said