Comex Gold Slides $86 to $4,522; Silver Drops $1.5 Ahead of Fed Decision

The Quick Take * Gold futures fell $86/oz to $4,522 and silver futures dropped $1.5/oz to $71.71 on Comex * Rising crude oil prices are intensifying inflation concerns, pressuring precious metals lower * Markets are pricing in sustained higher interest rates from central banks amid oil-driven inflation * The upcoming US Fed decision is the key near-term catalyst; outcome will set the tone for metals * Higher-for-longer rate expectations globally weaken the appeal of non-yielding assets lik