Gold prices witnessed a slight decline, primarily driven by surging oil prices, raising inflation worries among traders. With an 86% probability of a US interest rate hike on the horizon, consumer prices saw a notable rise in August, further solidifying expectations of increased rates. As higher interest rates typically reduce gold's allure, other precious metals also faced downturns on Monday.
Gold prices witnessed a slight decline, primarily driven by surging oil prices, raising inflation worries among traders. With an 86% probability of a US interest rate hike on the horizon, consumer prices saw a notable rise in August, further solidifying expectations of increased rates. As higher interest rates typically reduce gold's allure, other precious metals also faced downturns on Monday.
<iframe src="https://hindustansphere.com/embed/cluster/79ec60341b28fad40284c95fa2296ea413fd4fb9" width="100%" height="320" style="border:0;max-width:680px" loading="lazy" title="Gold prices dip as oil-driven inflation concerns weigh"></iframe>
GLOBAL-PRECIOUS/:PRECIOUS-Gold prices dip as oil-driven inflation concerns weigh
