Gold Holds Loss as Hot Inflation Lifts October Rate-Hike Bets

Gold prices maintained a decline following a surge in US inflation, which increased concerns that the Federal Reserve may implement further interest rate hikes to stabilize prices. Simultaneously, U.S. stock futures experienced a drop as the hot inflation data revived fears regarding potential Fed rate increases. Both precious metals and equity markets reacted negatively to the economic indicators, reflecting investor anxiety over the Federal Reserve's future monetary policy decisions to combat rising inflation levels.