Gold prices hit 3-month low amid interest rate concerns following oil price surge
LCO LOGIQ Contrarian Opportunities ETF
$25.60 -4.19%
View chart & analysis → - 1Spot gold prices fell 0.3% to reach a 3-month low.
- 2Brent crude futures rose to $114 per barrel on Friday, marking a 5-month high.
- 3Traders are pricing in a 78% probability of an interest rate hike in December.
So what's the key point?
Gold prices have dropped to their lowest level in 3 months as oil prices rose significantly. This is a difficult situation for gold holders because there is a high perceived possibility of interest rates increasing.
Source Investing.com +1 · View original ↗
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