Gold prices dip as oil-driven inflation concerns weigh
· economictimes.indiatimes.com
Gold prices witnessed a slight decline, primarily driven by surging oil prices, raising inflation worries among traders. With an 86% probability of a US interest rate hike on the horizon, consumer prices saw a notable rise in August, further solidifying expectations of increased rates. As higher interest rates typically reduce gold's allure, other precious metals also faced downturns on Monday.
Synopsis
Gold prices witnessed a slight decline, primarily driven by surging oil prices, raising inflation worries among traders. With an 86% probability of a ...