CommoditiesMedium•10 November 2026•
1 min read
Gold Prices Drop 2% Following Higher-Than-Expected US CPI Data
Key Facts
1Gold prices fell 2% on the day amid significant selling pressure.
2US CPI data showed a higher-than-expected rise, fueling fears of aggressive interest rate hikes.
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.