US inflation rises pushes dollar up declines in gold and stocks
The increase in inflation in the United States during September by 3.7% led to the dollar rising against major currencies, reaching its highest level in 18 months, driven by higher energy and gasoline prices. The price of gold fell by more than 1%, continuing its losses for the third consecutive session, as expectations of a US interest rate hike to combat inflation put pressure on gold, which yields no income. Additionally, the report caused a decline in Wall Street stock indices, with expectations of a potential interest rate increase in the coming months.
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