Gold Prices Rally Alongside Treasuries Driven by Tech Stock Selloff

Spot gold rose as much as 1.4% to trade above $4,150 an ounce, recouping earlier losses as a tech-driven equities rout spurred haven demand for bonds.

The precious metal's rise was supported by falling US Treasury yields, which reversed a spike caused by higher-than-expected consumer price inflation data released on Wednesday.

Traders increased bets that hotter inflation may prompt the Federal Reserve to raise interest rates further at its upcoming October 27-28 policy meeting.