Gold heads for 6% monthly decline ahead of US inflation data

Gold prices fell Wednesday and headed for a monthly loss of more than 6 percent as rate-hike expectations weighed and investors awaited US inflation data.

• Spot gold fell 0.2 percent to $4,170.63 an ounce by 0150 GMT, after losing more than 6 percent this month.
• The US personal consumption expenditures price index is due at 1230 GMT.
• CME FedWatch data shows traders see a 47 percent chance of a rate hike in October and 91 percent in December.
• New York Fed President John Williams said policymakers may need to raise interest rates only once more this year.
• Spot gold steadied at $4,185 an ounce, while US gold futures rose 0.8 percent to $4,212.70.
• The US personal consumption expenditures price index rose 3.4 percent annually in August, below the 3.7 percent estimate.
• Traders cut the odds of an October rate hike to about 35 percent from roughly 45 percent before the data.
• ADP data showed private employers added 90,000 jobs in September, up from 36,000 in August.