Gold drops toward $4,050 as US CPI fuels speculation of larger Fed rate hike
Gold (XAU/USD) extends its intraday decline on Tuesday after US inflation came in hotter than expected. The metal is down about 2.20%, erasing all of the previous day’s gains as the US Dollar strengthens. At the time of writing, XAU/USD trades around $4,050, down from Monday’s high near $4,148.