Global gold prices hit seven-week low as oil surge stokes rate hike fears

vnexpress.net (Vietnamese) —

Global gold prices fell to a seven-week low on Monday, dropping up to 170 USD per ounce to close at 4,114 USD, as rising crude oil prices fueled concerns over potential interest rate hikes. The decline was driven by a 3% surge in oil prices after US President Donald Trump rejected Iran's peace proposal, intensifying inflation worries. A stronger US dollar and rising Treasury yields also pressured the precious metal, making it less attractive to investors. Market expectations now show a 94% probability of a Federal Reserve rate hike in December, following a recent 25-basis-point increase. Upcoming US employment and inflation reports this week could further influence monetary policy decisions.


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