Gold falls amid inflation fears and interest rate hike expectations
Agencies1 min read
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Gold prices fell on Wednesday amid bets on interest rate hikes, fueled by fears that escalating tensions in the Middle East could increase inflation, while markets await key U.S. inflation data this week.
Spot gold fell 0.1% to $4349.44 per ounce by 00:40 GMT, while U.S. gold futures for December delivery fell 1% to $4393.30.
Markets are awaiting the release of the U.S. Producer Price Index on Thursday, followed by Consumer Price Index data on Friday, amid anticipation of clues regarding the path of U.S. monetary policy.
