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Gold hits two-week low: are rising oil prices to blame?
Gold fell to a two-week low on Friday as oil prices pushed back above $100 a barrel after renewed military tension between the US and Iran heightened inflation concerns and reinforced expectations that interest rates may stay higher for longer. Spot gold was down 0.7% at $4,705.09 an ounce, while US gold futures for June delivery slipped 0.6% to $4,705.10.
Tickers: AAAUBARDBPDGLGLDGLDMIAUOUNZSGOLUGL
Gold fell to a two-week low on Friday as oil prices pushed back above $100 a barrel after renewed military tension between the US and Iran heightened inflation concerns and reinforced expectations that interest rates may stay higher for longer. Spot gold was down 0.7% at $4,705.09 an ounce, while US gold futures for June delivery slipped 0.6% to $4,705.10.