Gold Prices Plummet on Inflation Fears and Expected Rate Hike

Gold prices fell by over one percent on September 28th in Singapore due to increased concerns about inflation and expectations of another interest rate hike from the Federal Reserve.

The US central bank raised interest rates earlier this month, taking them between 3.75% and four percent.

Silver and other precious metals also declined in value: spot silver dropped 2.6%, platinum fell 2.1%, and palladium lost 2.1%.