Gold hits 7-week low as oil-driven inflation fears boost rate-hike bets

By Ashitha ShivaprasadGold fell 3% on Monday to touch its lowest in more than seven weeks, as higher oil prices stoked inflation fears, bolstering the case for elevated interest rates.Spot gold TVC:GOLD was down 3% at $4,156.45 per ounce, as of 0814 GMT, hitting its lowest since August 5. US gold f…