Gold Near $4,040 as Fed Hike Bets Rise
Investing.com reported on 11‑Nov‑2026 at 10:38 am (author Roushni Nair) that spot gold steadied above the $4,040 level after a sharp decline the previous session. At 23:56 ET (04:56 GMT) spot gold rose 0.22 % to $4,041.67 per ounce, while U.S. gold futures gained 0.48 % to $4,049.52. Silver spot advanced 1.6 % to $52.3730 per ounce, platinum spot climbed 1.7 % to $1,566.42, and palladium spot rose 1.7 % to $1,044.25 (palladium futures up 1.5 % to $1,039.25). The U.S. dollar index edged up 0.02 % to 102.27.
The rally follows a 2.6 % drop in gold after October’s U.S. consumer price index report came in hotter than expected, which also pushed Treasury yields higher across maturities and lifted a gauge of the dollar. Market participants are now fully pricing in a 25‑basis‑point Federal Reserve rate increase in December, a move that would raise borrowing costs and increase the opportunity cost of holding non‑interest‑bearing gold, while a stronger dollar makes bullion more expensive for buyers using other currencies.
Hawkish commentary from Fed officials added to the pressure. Dallas Fed President Lorie Logan stated that the central bank needs to raise rates by at least another 50 basis points, possibly at a faster pace than recent gradual hikes. Fed Governor Christopher Waller also raised the possibility of a 50‑basis‑point increase at the December meeting, reinforcing concerns of more aggressive tightening to curb inflation.
Commodity tickers showed the following intraday changes: Gold Spot US Dollar +0.40%, Silver Spot US Dollar +2.78%, DX (U.S. Dollar Index) +0.23%, GC (Gold Futures) +0.66%, PA (Platinum) +6.31%, Platinum Spot US Dollar +1.69%, Palladium Spot US Dollar +6.15%.
Overall, the article highlights that gold’s short‑term recovery is constrained by expectations of further Fed tightening, a strengthening dollar, and rising Treasury yields, all of which could keep the metal under pressure despite the modest price bounce.