Gold tumbles 4% to seven-week low as oil, dollar and yields climb

Gold fell sharply as rising oil prices heightened inflation concerns and strengthened expectations for tighter monetary policy. A firmer dollar and increasing Treasury yields contributed to the decline in gold prices. Spot gold reached its lowest level since early August, settling significantly lower than previous trading sessions. Other precious metals such as silver, platinum, and palladium also experienced notable declines in their prices.

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