Gold Slips Below $4,200 as Fed Rate Hikes and Strong Dollar Take Hold

Gold prices have slipped below $4,200 due to rising expectations of Federal Reserve rate hikes and a stronger U.S. dollar.

The Fed's September meeting raised interest rates by 25 basis points, with officials emphasizing that inflation remains elevated and that restrictive monetary policy will be maintained.

Cleveland Fed President Loretta Mester stated that inflation risks remain high, while Fed Governor Michael Barr indicated further policy adjustments may be necessary to bring down inflation.