Gold Prices Fall on Fed Rate Hike Expectations

Gold prices slid on Thursday as investors grew cautious about the US Federal Reserve's potential to further tighten monetary policy. The non-yielding metal fell by 0.3% to $4,274.79 per ounce at 07:02 GMT.

The decline came as market participants anticipate another rate hike in late October, following last week's increase, amidst rising inflation pressures and a strengthening economy.

'Investors are currently focused on the Fed's higher-for-longer stance,' said Ross Maxwell, chief strategy officer at VT Markets. 'A clearer signal of another rate hike would pressure gold lower.'