Gold prices drop 2.5% as US inflation data fuels Fed rate hike fears

Gold prices drop 2.5% as US inflation data fuels Fed rate hike fears

Gold prices fall as US inflation stays strong, raising Fed rate hike fears. Dollar rise and market selloff keep gold under pressure worldwide.

CoinStats - Gold Slips to 11-Week Low as US Inflation Dat...

BitcoinWorld Gold Slips to 11-Week Low as US Inflation Data Reinforces Fed Rate Hike Bets Gold prices extended their decline to an 11-week low on Wednesday, pressured by stronger-than-expected US inflation data that reinforced expectations the Federal Reserve will maintain its aggressive interest rate hiking cycle. The yellow metal fell below the key $1,800 per ounce level, marking its lowest point since late September. Inflation Data Fuels Hawk…