Gold dips on rate hike fears
Gold prices declined on Monday due to concerns over potential interest rate hikes in the United States following the release of a strong jobs report. The spot price of gold dropped by 1% to $4,287.66 per ounce, reaching its lowest level since March, while the August contract fell to $4,311. An increase of more than three dollars per barrel in oil prices heightened inflation worries, affecting the financial markets.
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