Gold Futures Flat as Fed Rate Hike Bets Rise on Hot CPI, Oil

Gold futures closed nearly flat despite rising Fed rate hike expectations after August CPI and surging oil prices reinforced inflation concerns. The metal was pressured all week by the prospect of more restrictive monetary policy, but the marginal gain suggests some safe-haven demand. The key uncertainty is whether the Fed's next move is a hike or a hold, which will determine gold's near-term direction.