Gold Futures Slide as US Dollar Rises on Hawkish Fed Comments

December Gold futures have extended their decline by over 1% as the US dollar strengthened for a fourth consecutive session. The rise in the dollar is attributed to hawkish comments from Federal Reserve officials following the recent rate hike. This has pushed CME FedWatch Tool probabilities toward a 50-50 chance of future policy moves.

Despite this, gold imports through August surpassed 1,000 tons, indicating strong Chinese demand. However, the stronger dollar and shifting inflation expectations have put pressure on other industrial metals, with December Copper futures pulling back 0.9% after a six-day rally near record levels.