Commodities
Gold Prices Tumble Amid Rising Oil Costs
Gold prices have taken a hit on Monday, dropping by 0.5% to $4,327.09 per ounce in the wake of a surge in oil prices.
This inflationary pressure has led investors to speculate that the US Federal Reserve may raise interest rates at its upcoming policy meeting.
US gold futures followed suit, plummeting 0.9% to $4,367.50.
Silver, platinum, and palladium also took a hit, with spot silver falling 1%, platinum dipping 0.2%, and palladium dropping 0.4%.