Gold Slips as Oil-Fueled Inflation Fears Grow
Gold prices declined on Wednesday as rising oil costs heightened inflation concerns. Investors now await the Federal Reserve policy decision and upcoming inflation data for rate clues.
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Gold fell 0.5% to $4,037.11 per ounce on Wednesday morning, slipping from a 1% gain in the previous session. The pullback followed a surge in Brent Crude Oil prices after an attack on a Saudi Arabia refinery stoked inflation fears. Investors now look to the Federal Reserve for interest rate clues.
