GDX is trading at $84.56, down 3.07%, as September CPI reportedly came in at 3.7% year over year, stoking concern that rates may stay higher for longer.

  • Higher-rate expectations and elevated Treasury yields weigh on non-yielding gold and pressure gold miners.
  • Bullion was already edging lower ahead of the CPI release as traders watched inflation for clues on Fed policy.
  • Miners entered the session after a broad gold-sector selloff amid rising yields and a firmer dollar.