Gold falls over 1% after hotter US inflation data
In short
Gold prices fell more than 1% for the third day in a row after US consumer prices rose in September. The stronger inflation reading also pushed the US dollar higher and made gold more expensive for buyers outside the US.
The move matters because traders now see a higher chance of more Fed rate hikes, which can दब pressure on gold. The exact gold price and what the Fed will do next are not stated in the available reporting.
What the reporting says
Gold prices fell over 1% for a third straight session after US consumer prices rose in September, according to the publisher summary. The data lifted expectations that the Federal Reserve could raise interest rates, while the US dollar index also climbed and made gold costlier for foreign buyers. The reporting cites a 44% chance of an October hike and 95% for December, but the exact price move is not stated.
Why it matters
Gold dropped after September US consumer prices rose, strengthening bets on a Federal Reserve rate hike. The publisher summary says the US dollar index also climbed, which typically weighs on gold for foreign buyers. Traders were cited as pricing a 44% chance of an October hike and a 95% chance in December. The reporting does not state the exact gold price or the size of the inflation print.