Gold prices consolidated their losses when settling Friday's trading, to record a weekly loss, amid expectations of more interest rate increases by the Federal Reserve. Data released today revealed that the Fed's preferred inflation index accelerated by 0.3% in September, and remained near its highest level in four decades, adding to inflationary pressures. Financial markets are awaiting the Federal Reserve's monetary policy meeting next week, with the bank expected to raise interest rates by 75 basis points for the fourth time in a row in an attempt to curb inflation in the United States. Upon settlement, gold futures contracts for December delivery fell 1.3%, or the equivalent of $20.80, to $1645 an ounce, recording a decline of 0.69%, or the equivalent of $11.50, this week. On the other hand, the dollar index rose - 0.3% to 110.90 points