Gold Extends Fall Below $4,000 as Market Looks to Fed Rate Hike

Gold fell for a third day, extending a drop below $4,000 an ounce as persistent US inflation and hawkish remarks from Federal Reserve officials fueled expectations for an interest-rate hike next month. The metal's decline reflects growing bets that the Fed will tighten policy further, boosting the dollar and weighing on bullion's appeal as a hedge.