Gold Dips as Oil Hits Three-Week Low

December gold futures, agreements to buy later, fell 0.7% to $3,940.40 an ounce Tuesday, Nov. 3, Reuters reported, as oil dropped to a three-week low. Cheaper oil can slow inflation, or rising prices, easing pressure on the Federal Reserve, the central bank, to raise rates. The Wall Street Journal reported gold rose that day, so outlets disagree on direction.