Gold Hits 7-Week Low as Oil Surge Spurs Rate Hike Bets
Spot gold dropped 3.8% to $4,121.6 per ounce, reaching its lowest since August 5. US gold futures fell 3.9% to $4,153.7. Analyst Jim Wyckoff said rising crude oil prices indicate persistent inflation, prompting expectations of tighter Federal Reserve policy. Higher Treasury yields and a strong US dollar contributed to a sharp decline in metal prices.
TOI Business·2h ago




