Gold prices fall to lowest level in over a month
Gold prices dropped to a one-month low on Monday, pressured by rising oil prices and US inflation data fueling rate hike expectations.
Key Takeaways
AIGold prices fell to their lowest level in more than a month on Monday, weighed down by higher oil prices and US inflation data that strengthened expectations of an interest rate hike this week.
Spot gold dropped 1.8% to $1,271.59 per ounce, while US gold futures settled at $1,311.20 per ounce, down 2.2%.
Among other precious metals, spot silver lost 2.5% to $62.88 per ounce. Platinum fell 2% to $1,759.87 per ounce, and palladium slipped 0.6% to $1,291.50 per ounce.