Gold Rises 2.1% as Brent and U.S. Crude Settle More Than 7% Lower
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Gold rose 2.1% Monday as oil prices settled more than 7% lower, while Federal Reserve officials’ recent calls for higher rates kept policy in focus for markets. Spot gold reached $3,954.41 an ounce at 1:49 p.m. ET (18:49 UTC). December U.S. gold futures settled 1.8% higher at $3,969.60 an ounce. Gold’s advance followed its October losses . Brent crude settled at $104.77 a barrel, down $8.66, or 7.63%. U.S. West Texas Intermediate crude settled at $96.46 a barrel, down $7.66, or 7.36%. The drop in oil eased some inflation concerns.
Source: TokenPost
