Gold Falls Below $4,000 as Inflation Reinforces Fed Hike Bets

The latest report

Reuters reported on 30 October that spot gold was down 0.9% at $3,982.85 an ounce by 07:40 GMT. December US gold futures fell 1% to $3,992.50, with bullion heading for a weekly fall and a second consecutive monthly decline.

The report linked the pressure to elevated oil prices and September US inflation data. Traders priced approximately a 72% chance of a December Fed rate increase in the reported snapshot.

What traders are watching

Higher interest rates can increase the opportunity cost of holding gold, which pays no interest. Market-implied probabilities can change quickly and do not confirm a future policy decision. All quoted prices are historical reference points from the source, not live QMM execution prices.