Gold Drops Over 1 Percent on Oil Rally
Gold prices fell more than one percent as rising oil costs fueled inflation concerns and strengthened expectations for extended higher interest rates. Spot gold declined to 4095.75 dollars per ounce.
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Gold fell 1.1% to $4,095.75 per ounce on Thursday morning as rising oil prices stoked inflation concerns. The drop pushed prices to their lowest level since October 7.
