Commodities
Gold Prices Plummet Amid Inflation Concerns
Gold prices reached their lowest in nearly two weeks on Monday after US Federal Reserve Chair Kevin Warsh hinted that interest rate hikes may be necessary to control inflation. Spot gold declined by 0.8 percent to $4,417.04 per ounce at 0406 GMT, marking its weakest level since August 19.
The decline was part of a broader trend in the metals market, with spot silver falling 0.4 percent to $66.10 and platinum declining 1.3 percent to $1,797.03. Palladium also slipped 2.5 percent to $1,386.96.