Gold Drops 1.3% as Oil Rally Reinforces Higher-for-Longer Rate Outlook
Spot gold fell 1.3% on Thursday as rising oil prices stoked inflation concerns. Investors awaited next week’s Federal Reserve meeting for policy clues.
By Sukanya MitraGold fell more than 1% on Thursday as rising oil prices stoked inflation concerns and reinforced expectations that interest rates could stay higher for longer, while investors awaited next week's Federal Reserve meeting for clues on the policy outlook.Spot gold TVC:GOLD slid 1.3% to…