Gold Prices Drop 2% Following Higher-Than-Expected US CPI Data
Key Facts
Gold prices fell 2% today amid significant selling pressure following the release of US inflation data. Kitco reported that the Consumer Price Index (CPI) rose 0.4% in October, exceeding economist forecasts of a 0.3% increase.
Data released on November 10, 2026, showed core inflation increased by 0.3%, fueling fears that the Federal Reserve will implement aggressive interest rate hikes next month. According to Kitco, spot gold was trading at $4,054.90 an ounce on November 10, 2026, as investors reacted to comments from Fed Governor Christopher Waller regarding a potential 50-basis-point rate hike.
Latest Updates · 3
- Notable·
Update: Silver prices plunged sharply in late U.S. trading on Tuesday, November 10, 2026. The decline moved in tandem with gold prices following inflation data that strengthened expectations for interest rate hikes.
- Notable·
Update: December gold futures dropped to $4,033 on November 10, 2026. This price level sits slightly below the low recorded last Friday.
- Notable·
Update: Gold futures for December delivery fell 1.3% to $4,060.80 on November 10, 2026. The decline followed an intraday move where prices hit a three-week high of $4,149 earlier in Tuesday's session.