Gold loses its shine: Prices drop to 4-month low
Gold just had a rough Monday: prices dropped more than 3%, hitting their lowest point in four months.
This marks nine days in a row of losses, with spot gold now at $4,340.09 per ounce (down 3.3% as of 0100 GMT) and US futures down 5%.
The main reasons? Rising inflation worries and talk of higher global interest rates are making investors nervous.
Gold's safe haven appeal fades
The ongoing conflict in the Middle East is pushing oil above $110 a barrel and driving up costs everywhere.
Normally, people flock to gold when things get tense, but right now even gold is losing its shine as rate hike fears grow (there is about a one-in-four chance the US Fed will raise rates by December).
Silver and platinum aren't immune either: both fell more than 3% as global markets react to all the uncertainty.