Gold prices declined on Wednesday as stronger-than-expected U.S. inflation data raised concerns about further interest rate increases by the Federal Reserve.
The September Consumer Price Index (CPI) report revealed persistent inflationary pressures, prompting investors to reassess the outlook for U.S. monetary policy.
Consequently, renewed expectations of additional Federal Reserve tightening weighed on the precious metal, as higher interest rates tend to reduce the appeal of non-yielding assets such as gold.
