Gold Prices Plummet Amid Oil Price Worries and Fed Rate Hike Bets

Gold prices fell over 1% on Thursday as concerns about an increase in oil prices and interest rates weighed on investors' minds. The precious metal is often used as a safe-haven asset, but its value decreased due to these external factors.

The sharp decline in gold prices comes amid rising expectations of higher interest rates by the US Federal Reserve. Investors are also worried about the impact of increased oil prices on inflation and the economy.