Gold slides to 7 week low on Middle East tensions
Business
Gold just hit its lowest price in about seven weeks, dropping 1.1% to $4,488.99 per ounce.
The main reason? Tensions in the Middle East have pushed oil prices up, making investors worry about inflation and higher interest rates, which usually isn't great news for gold.
US Fed minutes, India silver curbs
Everyone's watching the US Federal Reserve's meeting minutes this week to see if interest rates will go up again (there's a 50% chance by year-end).
Meanwhile, India put new limits on silver imports to help its currency, and there were record gold discounts last week.
Silver fell even more than gold (down 2.2%), and platinum and palladium both slipped too, so it's been a rough start to the week for precious metals fans.