Gold
Slips as Investors Eye US Inflation Data for Fed Cues
New
York, 10 Nov 2026 (ONA) — Gold prices fell today as investors took profits
after the precious metal rose more than one percent in the previous session,
while awaiting the release of US inflation data for signals on the Federal
Reserve’s monetary policy path.
Spot
gold declined 0.6 percent to $4,115.12 an ounce, while US gold futures for
December delivery edged up 0.2 percent to $4,123.90.
Kyle
Rodda, a financial market analyst at Capital.com, said: “Prices are
pulling back from the highs reached during the US session, which can be
attributed to profit-taking.” He added: “If the situation persists in
which the United States is unwilling to escalate the conflict in the Middle
East, and oil prices decline as a result, that would be very beneficial for
gold because of its impact on the dollar, inflation, and interest rate
expectations.”
Meanwhile,
Tom Barkin, President of the Federal Reserve Bank of Richmond, said the US
central bank must move “cautiously” in its monetary policy as it
plans its response to inflation, which remains its greatest risk, adding that
he has no baseline view of what should be done at the December meeting.
According
to the CME Group’s FedWatch tool, traders currently see an 84 percent
probability that the Federal Reserve will raise interest rates in December.
Higher
interest rates increase the opportunity cost of holding non-yielding gold, reducing
its appeal. Investors await the consumer price index report, due later today,
and producer price index data on Friday.
Among
other precious metals, spot silver declined 0.6 percent to $53.04 an ounce,
platinum fell 0.3 percent to $1,571.70, and palladium dropped 0.4 percent to
$1,037.50.
—
Ends/Khalid
