News Summary

• High oil prices fuel inflation concerns and keep interest-rate hike bets a near-certainty.
• The 10-year US Treasury yield rose to the highest level in almost two decades on Tuesday.
• Gold is down more than 3% in September, after trading above $4.700 an ounce in late August, as traders recalibrate the outlook for Fed policy.
• But many investors are betting that bullion will regain momentum once it rediscovers its traditional value as a portfolio hedge.