Gold Slips as Oil Rises Ahead of Fed
Gold prices edged lower as high oil prices sparked inflation concerns while investors awaited the Federal Reserve policy decision. Analysts noted elevated energy prices boost expectations for higher interest rates.
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Gold fell 0.2% to $4,050.55 per ounce on Wednesday morning as rising oil prices fueled inflation worries ahead of the FOMC policy decision. The drop comes as traders weigh potential monetary tightening driven by energy costs. Elevated energy prices increase the opportunity cost of holding non-yielding bullion, according to market participants.
