Forex
Gold Prices Plunge on Inflation Fears Ahead of Fed Rate Decision
Gold prices declined on Monday as concerns over inflation boosted expectations of higher interest rates from the US Federal Reserve.
The spot price of gold dropped by 0.5% to $4,327.09 per ounce at 05:28 GMT after posting a third consecutive weekly decline on Friday.
US gold futures also fell 0.9% to $4,367.50, while other metals such as silver, platinum, and palladium saw declines of 1%, 0.2%, and 0.4% respectively.