Gold fell below $4,300 an ounce on Monday to its lowest level in more than a month, extending losses after a third consecutive weekly decline. A stronger US dollar and expectations that the Federal Reserve (U.S. central bank) will raise interest rates on Wednesday pressured the metal. Markets are pricing in about a 90% probability of a hike after US data showed consumer inflation accelerated in August; a key underlying-inflation measure rose at its fastest pace in four months and exceeded expectations slightly. Oil prices continued rising after Saudi Arabia shut a major crude pipeline following drone attacks, disrupting a route that bypasses the Strait of Hormuz and intensifying global supply concerns. The Bank of Japan is also expected to raise rates on Friday, while elevated energy prices and persistent Middle East tensions complicate the inflation outlook.