Gold fell by 3%, pressured by expectations of interest rate hikes from the Federal Reserve

According to Gate market data, U.S. inflation data exceeded expectations, coupled with comments from Federal Reserve officials reinforcing rate hike expectations, spot gold prices once fell by 3%, dropping below $4,015 per ounce.

Dallas Federal Reserve President Logan believes it is necessary to raise rates at least two more times by 25 basis points, while MKS PAMP's head of metal strategy, Hills, stated that the market's expectation for a 50 basis point rate hike in December has increased.