Gold futures slide to $4,360 as Fed rate-hike bets strengthen

Gold futures extended their four-day decline on Wednesday, slipping nearly 1% to around $4,360 an ounce as heightened inflation risks strengthened expectations of further Fed rate hikes. Escalating Middle East tensions have amplified concerns over an energy-driven inflation shock, pushing bond yields higher and lifting the dollar to a two-week peak near 99.7. Hawkish remarks from Fed Governor Michael Barr added to pressure on bullion. Markets now await US employment data for further clues on the Fed?s policy trajectory. MCX October gold futures fell 0.9% to ₹1,50,413 per 10 grams, with support at ₹1,49,500 and ₹1,49,100.

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