Gold Slumps Amid Inflation Fears and Rising Oil Prices
Gold prices continued to decline on Friday, falling more than $130 from its two-week high reached on Wednesday. The precious metal's price slid by 0.4% to $4,030.09 per ounce at 0333 GMT.
The drop in gold prices comes as Brent crude oil returned above $100 a barrel, stoking inflation concerns and strengthening the case for higher interest rates ahead of the Federal Reserve policy meeting next week.