Analyst Giulia Petroni says gold is under pressure from a surge in oil, higher
bond yields and rising rate‑hike expectations, and expects a weekly decline of
more than 2%. In mid European trading New York gold futures fell as much as 0.5%
to $4,383.90/oz. U.S. August PPI rose, heightening concern that Middle
East‑linked energy gains could feed into inflation. Markets are focused on
Friday’s CPI print; CME FedWatch shows a 67% probability of a Fed rate increase
next week.
