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Commodities

Gold Price Tumbles Below $4,200 Amid Rising Oil Prices

Guavy AI Editorial Team
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Oil Gold
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The price of gold has taken a hit, falling below $4,200 per ounce for the first time since August 5.

This decline is attributed to rising oil prices and expectations of a Fed rate hike, according to Reuters.

The publication reports that Brent crude gained in price after Trump's decision to abandon a seven-day truce with Iran, which would have opened the Strait of Hormuz.

The price of gold fell by 3.1% on September 28, reaching $4,155 per ounce - its lowest level in seven weeks.

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