Oil Crashes 8%, Gold Reclaims $4,000
US crude fell about 8% to settle near $88 a barrel, its third straight fall and a one-month low. Brent dropped 9.2% to $94.11, below $100 for the first time in nearly a month.
Why oil fell: Traders are betting a Democrat-led Congress will push to end the Iran war.
Gold: Up 2.95% to $4,053.68 an ounce, back above $4,000 after closing at $3,913 last Friday.
Silver: Up 4.58% to $52.49 an ounce.
In India: 24K gold rose 2.34% to Rs 1,43,170 per 10 g. Silver rose 3.77% to Rs 1,87,280 per kg.
RupeeRadar Insight: Cheaper oil is great news for India's import bill and inflation. It helps oil marketing companies, paint makers and airlines. Gold buyers should expect higher jewellery prices today.