India, Sept. 28 -- Gold prices fell sharply on Monday as surging oil prices and elevated bond yields added to worries that the U.S. Federal Reserve will continue raising interest rates next month.
CME Group's FedWatch Tool currently indicates a 64.2 percent chance the Fed will raise borrowing costs by an additional 25 basis points at its late October meeting.
Spot gold tumbled 3.3 percent to $4,146.32 an ounce while U.S. gold futures were down 3.2 percent at $4,180.80.
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