Gold Falls as Inflation Fears Rise
Gold prices declined on Wednesday amid expectations of a rate hike by the U.S. Federal Reserve, with concerns growing that tensions in the Middle East could fuel inflation. The spot price of gold dropped slightly by 0.1% to reach $4,349.44 per ounce, while December futures fell 1% to $4,393.30. Markets are awaiting the release of key inflation data in the United States, such as the Producer Price Index, expected on Thursday, followed by the Consumer Price Index on Friday, which will determine the future course of U.S. monetary policy.
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