Gold declines as rising oil prices and inflation expectations influence investor focus
Gold prices declined to $4,028.13 per ounce after rising by more than 2% in the previous session. This increase was driven by the surge in oil prices, which raised concerns about inflation and its implications for U.S. interest rate forecasts. It is worth noting that investors now see a 58% chance of a U.S. interest rate hike in September, down from 76% before the US inflation report was released.
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