Gold Dips as Rising Oil Fuels Rate Hike Bets
Gold prices slipped on Tuesday as rising oil triggered inflation concerns. Investors now await upcoming U.S. consumer and producer price data for monetary policy clues.
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Gold fell 0.4% to $4,385.09 per ounce on Tuesday afternoon as climbing energy costs stoked inflation fears. The drop reflects growing trader bets on an upcoming Federal Reserve rate hike. Rising borrowing costs continue to pressure non-yielding bullion.
