India, Oct. 23 -- Gold prices have slumped on Friday amid rising inflation worries due to a surge in crude oil prices for the second day due to the potential chances of re-escalation in the U.S.-Iran conflict after the midterm elections in the U.S. in November. Concerns of a possible higher interest rate regime in the U.S. have increased among investors.
Front Month Comex Gold for December delivery has tumbled by $52.30 (or 1.29%) to $4,008.10 per troy ounce.
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