Gold drops as rate-hike bets rise amid oil surge
Gold prices slumped for a third session, pressured by a crude oil price surge after fresh weekend U.S.-Iran attacks, lifting expectations for U.S. rate hikes to contain inflation.
WASHINGTON (dpa-AFX) - Adding to two sessions of losses, gold prices have slumped on Tuesday as crude oil prices continued to skyrocket following fresh weekend attacks between the U.S. and Iran, which increased expectations of rate hike bets in the U.S. to contain the consequent inflation.Front Mon…