Gold faces inflation headwinds on hawkish Fed tilt

GreyOak summary

Gold prices declined to $4,030 per ounce following a US CPI report showing 0.4% headline inflation, exceeding expectations. Hawkish comments from Federal Reserve officials increased the probability of a December rate hike, raising the dollar and yields. Meanwhile, Brent crude oil fell nearly 5% below $90 due to easing geopolitical tensions, though this did not significantly boost gold.