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Gold fell to $4,170 an ounce on Monday, its lowest level since August 5, as surging oil prices fueled inflation concerns and strengthened expectations for higher-for-longer interest rates. A firm US dollar and US Treasury yields near 19-year highs also weighed on the non-yielding metal. Brent crude surged to $107 a bar
U.S. stocks post modest weekly gains, with the S&P 500 and Nasdaq Composite advancing, the Russell 2000 hitting an all-time high, and softer inflation data reducing bets on another Fed rate hike.