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Gold Slides as Rate-Hike Expectations Persist Ahead of US Inflation Data

Gold declined as investors assessed inflation concerns and Fed signals ahead of the scheduled US PCE release.

· Market news summary · 2 min read

The latest report

CNBC's Reuters report on 29 October put spot gold down about 1.1% at $4,022.19 an ounce. December US gold futures were down 0.4% at $4,035 in the reported snapshot.

The report linked the pressure to inflation concerns and interest-rate expectations as investors awaited the scheduled US Personal Consumption Expenditures release.

What traders are watching

Gold does not pay interest, so changes in expected borrowing costs can influence its relative appeal. Inflation data can alter those expectations, although the relationship is not a guaranteed price signal. The quoted prices are historical reference points from the report, not live QMM execution prices.

Source: CNBC / Reuters — read the original report

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