Gold Drops More than 2% on US Rate-Hike Bets

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The price of gold fell by almost 3 per cent during the bidding on Monday, as the increase in oil quotations increased fears of continuing high inflation and strengthened expectations for further increases in interest rates by the Federal Reserve (FRF).

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The value of the December futures on the Comex gold exchange has fallen to less than $4,200 per ounce, which has been the minimum since August 5, 2026. On the Comex stock market, the value of the futures on gold delivered in December fell below $4,200 per ounce, TASS writes. As at 9:56 ms, the drop was 2.91%, reaching $4195.5 per ounce. By 10:01 ms, the decline had slowed slightly to 2.87%, with the price rising to $4,197.3. According to the GLA…

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Gold fell more than 2 percent on Monday as rising oil prices fueled inflation concerns, reinforcing market expectations for further interest rate hikes by the Fed. We will be covering similar topics at our Portfolio Investment Day conference on October 21. One of the biggest investment events of the year is coming up, where professional experts will tell you what to invest in now. Register here.

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Today, on Monday, gold prices declined, influenced by rising oil prices and growing fears of inflation, which reinforced the expectations of the US Federal Reserve to raise interest rates again, according to Reuters.