⬇️ The price of gold fell below $4,200 per ounce for the first time since August 5.

As of 10:36 a.m. Moscow time, the December futures contract for the precious metal was trading at $4,189 per ounce. The price fell by 3.06%. The intraday low was $4,186.34 per ounce.

▶️The silver contract fell by 5.25% to $61.4 per ounce, while platinum fell by 3.25% to $1,739.2.

Reuters attributes the decline in precious metal prices to rising oil prices and growing concerns about further interest rate hikes by the U.S. Federal Reserve. Traders estimate the probability of a rate hike in October at 69%.

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