Gold closed Wed 11 Nov at $3,989, down 1.1%
The story that best fits the day: Ethereum extends losses as Fed's Waller puts a larger rate hike on the table and US CPI remains hot.
What moved gold on Wednesday 11 November 2026
Gold closed Wed 11 Nov at $3,989, down 1.1%. The story that best fits the day: Ethereum extends losses as Fed's Waller puts a larger rate hike on the table and US CPI remains hot.
Dollar Index crossed a 19-month high as the greenback continues to rally
Gold is priced in dollars. A stronger dollar makes it more expensive for everyone else and tends to push it down.
Effect: right now
Gold fell 0.07% in the next hour, as the verdict suggested.
Gold $3,987 when this landed Read at Seeking Alpha
Gold down 1.0% today, now $3,992
Down $42 since the last close. The stories that fit this move:
Iran attacks shipping navigation systems on Oman’s Didamar island, sources say
A bigger war in the Gulf threatens oil supply. More expensive oil keeps inflation and US interest rates high, which hurts gold.
Effect: right now
Gold fell 0.12% in the next hour, as the verdict suggested.
Gold $3,994 when this landed Read at Investing.com Commodities
Gold fell below $4,000
Many traders place orders at round numbers, so prices often pause or speed up there. Crossing one is not a signal on its own.
Iran tells COP31 it wants compensation for environmental damage from US-Israeli strikes
A bigger war in the Gulf threatens oil supply. More expensive oil keeps inflation and US interest rates high, which hurts gold.
Effect: right now
Gold fell 0.24% in the next hour, as the verdict suggested.
Gold $4,001 when this landed Read at Arab News Also reported by Investing.com Commodities
Saudi Crude Output Jumps 26% as Riyadh Reports Near Pre-War Production
More expensive oil feeds inflation, which can keep US interest rates high. That usually weighs on gold.
Effect: over the coming weeks
Gold $4,010 when this landed Read at OilPrice.com
Gold fell below yesterday's low and this week's low of $4,015.30
Many traders watch this level. Crossing it can bring more selling, but prices often turn back, so it is not a signal on its own.
Gold dropped another $35 in 1507 minutes, now $4,015.60
From about $4,051 at
Likely reason
U.S. CPI Rises Moderately, Exceeding Forecasts but Below Previous Levels Investing.com Economy
Hotter US prices make higher interest rates more likely. Gold pays no interest, so it loses appeal.
Effect: right now
Gold mining stocks rise as bullion climbs after inflation-driven slide
Cooler US prices take pressure off the Fed to keep rates high. Lower rates usually help gold.
Effect: right now
Gold fell 0.08% in the next hour, against the verdict.
Gold $4,035 when this landed Read at Investing.com Commodities
G7 condemns Houthi attacks on Saudi Arabia, urges Iran to stop arming group
A bigger war in the Gulf threatens oil supply. More expensive oil keeps inflation and US interest rates high, which hurts gold.
Effect: right now
Gold fell 0.13% in the next hour, as the verdict suggested.
Gold $4,043 when this landed Read at Arab News
Dollar Rises Further on More Hawkish Fed Policy Outlook
Higher US interest rates make savings and bonds pay more, and gold pays nothing, so it tends to lose out.
Effect: right now
Gold fell 0.17% in the next hour, as the verdict suggested.
Gold $4,052 when this landed Read at ActionForex
Ethereum extends losses as Fed's Waller puts a larger rate hike on the table and US CPI remains hot
Hotter US prices make higher interest rates more likely. Gold pays no interest, so it loses appeal.
Effect: right now
Gold $4,055 when this landed Read at investingLive
Russia and Ukraine Resume Push for Peace Deal
Less danger means less need for gold as protection, so some of that safety buying can unwind.
Effect: right now
Gold $4,051 when this landed Read at Rigzone
Iran says oil tanker hit mine and caught fire in Strait of Hormuz
Trouble for tankers threatens oil flows from the Gulf. More expensive oil keeps inflation and US interest rates high, which gold does not like.
Effect: right now
Gold fell 0.03% in the next hour, as the verdict suggested.
Gold $4,050 when this landed Read at Arab News
Gold dips after Fed's Waller drops the 50 bps hike bomb and US CPI comes above expectations
Hotter US prices make higher interest rates more likely. Gold pays no interest, so it loses appeal.
Effect: right now
Gold $4,059 when this landed Read at investingLive
Iran denies talks with US, says Hormuz will stay shut until demands are met
Trouble for tankers threatens oil flows from the Gulf. More expensive oil keeps inflation and US interest rates high, which gold does not like.
Effect: right now
Gold $4,060 when this landed Read at Al Jazeera
US CPI Hotter Than Expected
Hotter US prices make higher interest rates more likely. Gold pays no interest, so it loses appeal.
Effect: right now
Gold rose 0.19% in the next hour, against the verdict.
Gold $4,055 when this landed Read at ActionForex
Heads up: US bond market closed for Veterans Day as stocks face a hot CPI hangover
Hotter US prices make higher interest rates more likely. Gold pays no interest, so it loses appeal.
Effect: right now
Gold $4,056 when this landed Read at investingLive
White House official stands by tariffs despite rising CPI and midterm backlash
Hotter US prices make higher interest rates more likely. Gold pays no interest, so it loses appeal.
Effect: right now
Gold fell 0.20% in the next hour, as the verdict suggested.
Gold $4,065 when this landed Read at Seeking Alpha
investingLive Asia-Pacific market news: KOSDAQ jumps nearly 5% as AI rebounds, oil firms
More expensive oil feeds inflation, which can keep US interest rates high. That usually weighs on gold.
Effect: over the coming weeks
Gold $4,046 when this landed Read at investingLive
1 more on this
- Oil Prices Rise as Iran Peace Optimism Fades OilPrice.com
Morning brief for Wed 11 Nov: Gold about $4,046
Where gold is
- About $4,046, up $12 (+0.3%) since the last close.
What happened
- Bearish: Oil rises from two-month low as Hormuz shipping attacks offset Iran truce hopes
- Bearish: Uncertainty Surrounds Possible Attack on Oman's Strait of Hormuz Lighthouse
- Bearish: Yields Jump as Inflation Comes in Hotter Than Expected
- Bearish: US stock market close: Hot CPI leads to a selloff
Oil rises from two-month low as Hormuz shipping attacks offset Iran truce hopes
Trouble for tankers threatens oil flows from the Gulf. More expensive oil keeps inflation and US interest rates high, which gold does not like.
Effect: right now
Gold rose 0.16% in the next hour, against the verdict.
Gold $4,042 when this landed Read at Investing.com Commodities
Gold rose above $4,050
Many traders place orders at round numbers, so prices often pause or speed up there. Crossing one is not a signal on its own.
Fed’s Paulson backs further gradual rate hikes, names three triggers for faster action
Higher US interest rates make savings and bonds pay more, and gold pays nothing, so it tends to lose out.
Effect: right now
Gold $4,036 when this landed Read at investingLive
1 more on this
Gold fell below yesterday's close of $4,033.90
Many traders watch this level. Crossing it can bring more selling, but prices often turn back, so it is not a signal on its own.
Uncertainty Surrounds Possible Attack on Oman's Strait of Hormuz Lighthouse
Trouble for tankers threatens oil flows from the Gulf. More expensive oil keeps inflation and US interest rates high, which gold does not like.
Effect: right now
Gold rose 0.08% in the next hour, against the verdict.
Gold $4,034 when this landed Read at The Maritime Executive