Gold Prices Plunge 3% as US CPI Data Fuels Hawkish Federal Reserve Bets

Key Facts

Gold prices plunged by 3% as traders bet on a hawkish Federal Reserve monetary policy. FX Empire reported that the sell-off followed the release of US Consumer Price Index (CPI) data, which fueled expectations for further interest rate hikes, boosting the dollar and weighing on non-yielding assets.

Data released on November 10, 2026, showed the Core Inflation Rate grew by 0.3%, exceeding analyst forecasts of 0.2%, while the monthly inflation rate increased by 0.4%. Alongside the drop in gold, other precious metals including silver and platinum faced downward pressure, as the 10-year Treasury yield settled above the 5.00% level on November 10, 2026.

The Producer Price Index (PPI) is scheduled for release on November 13, 2026, an event that may provide further clarity on the US inflation trajectory and its subsequent impact on metal prices.