Gold Price Today: $4,040 Wednesday After a Hot CPI Lifted…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold steadied near $4,040 an ounce following a 2.6 percent drop after US October inflation exceeded forecasts. Futures markets now fully price in a December Federal Reserve rate increase.
Why it matters
Gold pays no interest, so a higher policy rate raises the cost of holding it.
Key facts
- US October headline CPI increased 0.4 percent month-over-month against 0.3 percent expected, while core CPI rose 0.3 percent.
- Spot gold fell about 2.6 percent on Tuesday before steadying near $4,040 on Wednesday.
- Fed Governor Christopher Waller indicated he backs a December rate rise and would support 50 basis points if core inflation holds around 0.3 percent or higher.
Source excerpt · FinanceFeeds
Updated 11 November 2026, 06:45 GMT. Spot gold was near $4,040 an ounce on Wednesday, steadying after a fall of about 2.6 percent on Tuesday, when US October inflation came in above forecasts (Investing.com, FXStreet). December gold futures were at $4,064.10 at 06:36 GMT (Yahoo Finance). Verdict: the market now fully prices a December Fed rate rise, which caps rebounds; $4,000 is the level traders…