Gold hits two-month low on oil rally
Gold prices fell to a two-month low as a rally in oil prices heightened inflation concerns ahead of the Federal Reserve policy decision next week. Spot gold slipped 1.9 percent while other precious metals also declined.
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Gold slipped 1.9% to $4,060.37 per ounce during Thursday morning trade, hitting its lowest level since August 4. The drop came as an energy market rally fueled persistent inflation worries ahead of upcoming central bank decisions. Lower non-yielding asset appeal and tighter monetary policy expectations weighed heavily on precious metals across global markets.
