Gold futures slump as U.S. CPI jump fuels rate hike concerns.

Precious and industrial metals came under pressure after a hotter-than-expected U.S. consumer price index report. December Gold futures dropped over 1.5% to $4,100 an ounce following a 0.6% monthly rise in headline CPI, raising expectations for additional interest rate hikes. December Silver futures fell over 5% to $56.30, while December Copper futures slipped 0.7% despite ongoing physical tightness in front-month contracts. CME FedWatch Tool probabilities now reflect more than a 50% chance of a rate increase at the upcoming Fed meeting.