Gold Price Slides on Hot Inflation, but Schiff Says It’s a Gift - Mitrade

AI desk brief

Gold slipped about 0.6% this week and is down more than 2% over the past month after hotter-than-expected US inflation prints pressured the metal. September CPI rose 3.7% y/y versus 3.6% expected, PPI jumped 6.3% y/y, and import prices rose 1.1%, reinforcing bets that the Fed may keep hiking and making non-yielding gold less attractive.

Peter Schiff argued the selloff is a buying opportunity, saying gold at $4,145 is a “gift” and that stubborn inflation shows the Fed has already lost its fight. But market pricing still leans the other way, with CME FedWatch implying a 90% chance of a December hike; Capital Economics and Bank of America both see further downside into year-end, with BofA calling for gold below $4,000.