Gold rises 1% as lower oil prices ease inflation fears

• Spot gold rose 1% to $4,107.01 an ounce Monday as a weaker dollar eased pressure on bullion.
• December West Texas Intermediate crude futures fell more than 3% to about $87 a barrel, easing inflation concerns.
• Traders priced in an 82.2% probability of a December Federal Reserve rate hike, limiting gold's upside.
• October US consumer price data, due Tuesday, could test that outlook; annual headline inflation is forecast at 3.9%, versus September's 3.7%.
• The benchmark 10-year Treasury yield rose almost two basis points to 4.876%, increasing competition from yield-bearing assets.

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