Gold Falls 1.4% as U.S. Inflation Stays High; Midterms Loom

Gold prices declined 1.4% amid persistent high U.S. inflation, likely reflecting expectations of continued Federal Reserve tightening. The upcoming U.S. midterm elections on November 3 add political uncertainty, but the primary driver is monetary policy. The decline suggests market pricing of higher-for-longer rates, pressuring non-yielding assets.

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