India, Aug. 5 -- Gold prices surged 2 percent to hit a one-month high on Wednesday as a sharp fall in oil prices helped ease concerns around inflation and interest rates.
Spot gold jumped 2 percent to $4,157.25 an ounce while U.S. gold futures were up 1.5 percent at $4,216.22.
Brent crude futures held steady around $80 per barrel but were down more than 9 percent so far this week amid rising optimism over a potential interim agreement to reopen the Strait of Hormuz.
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