India, July 13 -- Gold prices were sharply lower on Monday as oil prices jumped on renewed U.S.-Iran hostilities, rekindling worries about inflation and the outlook for interest rates.
Spot gold fell 1.2 percent to $4,073 an ounce while U.S. gold futures were down 0.8 percent at $4,080.90.
Oil prices jumped about 2 percent on concerns over potential supply disruptions after the U.S. launched fresh strikes against Iran.
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