Gold Drops Below $4300 as Strong PMI Lifts Fed Hike Odds

Gold and silver prices fell sharply after stronger-than-expected US PMI data lifted Treasury yields and the dollar. The composite PMI rose to 58.4, pushing October Fed hike odds to 66-70.9%. Spot gold dropped 1.63% to $4286 an ounce and silver fell 3.88% to $64.33.