World
Gold falls amid rising oil prices and higher US dollar
Gold hits seven-week low; silver follows suit and records a nearly 5 percent loss.
Al Jazeera•
Gold prices are falling as concerns of rising fuel prices stoke inflation worries on the back of the war between the United States and Iran.
Spot gold prices fell by 3.3 percent to reach a more than seven-week low at $4,146.51 per ounce on Monday.
Rising oil prices, a higher US dollar and Treasury yields stoked inflation concerns, creating further headwinds for the metal.
“Gold does not yield interest, so when Treasury yields go up, investors turn away from gold, impacting its value”, he added.