S tronger-than-expected U.S. inflation on Tuesday reinforced expectations that the Federal Reserve could raise interest rates again in December, sending gold and equities lower as investors reassessed the monetary policy outlook. U.S. consumer prices rose 0.4% in October, above economists' expectations of 0.3%. Although the increase slowed from September's 0.6%, the latest reading added to concerns that inflationary pressures remain persistent. Spot gold dropped 2.1%, or $87.60, to $4,052.90 an ounce as of 1330 GMT, while silver shed 2.8% to $51.90. The inflation report also rattled U.S. government bonds, sending Treasury prices lower and yields higher as traders strengthened their bets on further monetary tightening.
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