Gold Futures Slip 0.7% to $3,940.40 as Oil Hits Three-Week Low

December gold futures settled 0.7% lower at $3,940.40 an ounce Tuesday, Nov. 3, Reuters reported, as oil fell to a three-week low. Cheaper oil can ease inflation, the rise in consumer prices, and weaken the case for tighter Fed policy, meaning higher interest rates. The Wall Street Journal reported gold settled higher that day, so outlets disagree on direction.