According to CoinMeta, gold and Bitcoin fell after U.S. inflation data boosted expectations for the Federal Reserve to raise interest rates. Spot gold prices dropped by more than 1%, approaching $4,358 per ounce, and Bitcoin also weakened as investors shifted to more profitable assets. Producer prices rose 0.4% month-on-month and 5.4% year-on-year in August, slightly higher than the annual forecast of 5.3%. The yield on 10-year Treasury bonds is around 4.9%, and the market has raised the probability of a Fed interest rate hike in September to about 70%. Despite strong institutional demand, the decline in gold was still significant. Global gold reserves ETF attracted $18 billion in inflows in August, setting a second-highest record, with holdings increasing by 121 tons to reach 4,189 tons.