Gold Prices Tumble Amid Inflation and U.S. Rate Concerns
Gold prices slumped Friday as inflation worries and concerns about higher U.S. interest rates rose. The report links inflation worries to higher crude oil prices and cites potential renewed U.S.-Iran conflict after the U.S. midterm elections.
WASHINGTON (dpa-AFX) - Gold prices have slumped on Friday amid rising inflation worries due to a surge in crude oil prices for the second day due to the potential chances of re-escalation in the U.S.-Iran conflict after the midterm elections in the U.S. in November. Concerns of a possible higher in…