The spot price of gold fell to $4,014.44 an ounce, losing more than 3% since early October, Bloomberg reports. The quotations remained under pressure due to the expectations of the interest rate increase by the US Federal Bank before the end of the year against the background of accelerating inflation: the price index of the expenses for personal consumption in the country rose by 0.5%, showing the maximum increase since March. Another factor in the decline was the sell-off in shares of technology companies, which forces investors to sell the precious metal to cover losses.