Gold prices drop as oil costs fuel inflation worries
Gold fell 1% as high oil prices fueled inflation fears. The drop follows President Trump's rejection of an Iranian peace proposal as regional tensions persist.
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Gold fell 1% to $4,667.99 on Monday morning as rising oil prices and geopolitical tensions fueled inflation concerns. Prices for the metal have declined more than 11% since late February. Higher energy costs increase the likelihood of the Federal Reserve maintaining elevated interest rates through March 2027.
