CoinMeta data: Gold prices fell below $4,200, hitting a low since early August, as rising oil prices reignited concerns about inflation and strengthened expectations for interest rate hikes by the Federal Reserve. Spot gold fell by about 2.7% at 06:27 Greenwich Mean Time to $4,171.85, while U.S. gold futures also dropped by 2.7% to $4,204.30. This decline represents a sharp reversal from last week when gold prices reached a one-week high. Normally, geopolitical uncertainties would support gold prices, but currently, the combination of high bond yields, expensive energy costs, and a strong U.S. dollar is suppressing demand for safe-haven assets. The market estimates that the probability of the Federal Reserve raising interest rates again in October is around 66%.