Gold slides as U.S. inflation data boosts rate-hike bets

The Fed is seen delivering another large rate hike in three weeks' time and ultimately lifting rates to 4.75%-5% by early next year, if not further, after the inflation report. Although traditionally considered an inflation hedge, interest rate hikes to combat soaring prices have reduced bullion's appeal since it yields no interest.

from Commodities-Markets-Economic Times
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