gold, silver Futures Slide as oil Fuels Rate Concerns

gold for December delivery fell 3% to $3,909.20 a troy ounce, and silver dropped 5.9% to $49.285. Rising oil prices are stoking inflation fears, reinforcing expectations of tighter monetary policy that weigh on non-yielding assets, according to DHF Capital's Bas Kooijman. He said a pullback in oil could ease pressure on gold, while a stronger-than-expected US jobs report would likely keep bullion under pressure.