Gold edges lower near $4,000 as US inflation fuels rate-hike expectations

Gold remained on track for a second consecutive monthly decline despite a modest weekly gain, The Business Times reports. Bloomberg says the US personal consumption expenditures price index rose 0.5% in September, its biggest increase since March. The Business Times, citing CME’s FedWatch Tool, says traders priced in about a 75% chance of a Fed rate hike in December.