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Gold Prices Eased as Inflation Worries and Rate Hike Expectations Rise

Guavy AI Editorial Team
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Gold prices eased on Wednesday as concerns over escalating Middle East tensions and inflation worries drove up interest rate expectations.

The spot price of gold was down 0.1% at $4,349.44 per ounce, while US gold futures for December delivery fell 1% to $4,393.30.

Markets are awaiting key US inflation data, with the producer price index due on Thursday and the consumer price index set to follow on Friday.

The Middle East conflict has intensified, with Iranian-backed Houthis launching strikes on several Saudi cities, further embroiling a US ally in the conflict.

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