PRECIOUS-Gold falls to over one-month low as oil rally, inflation data boost rate hike bets
GLD•Other precious metals decline
Among other metals, spot silver XAG= slid 2.5% to $62.88 per ounce, platinum XPT= dipped 2% to $1,759.87, and palladium XPD= fell 0.6% to $1,291.50.
Gold falls to more than one-month low
Gold fell to a more than one-month low on Monday, as a rally in oil prices and stronger-than-expected inflation data on Friday bolstered expectations of a rate hike at the U.S. Federal Reserve's policy meeting this week.
Spot gold XAU= was down 1.8% at $4,271.59 per ounce by 9:28 a.m. EDT (1328 GMT), falling to its lowest since August 7. U.S. gold futures GCcv1 dropped 2.2% to $4,311.20.
Oil rally and dollar strength weigh on bullion
Oil prices rose about 4% on Monday, after new strikes on Saudi Arabian energy and civilian infrastructure and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline. O/R
