{
  "id": 19446770,
  "title": "Gold edges higher after sharp selloff, Fed hike bets weigh",
  "url": "https://urgent.news/2026/11/11/gold-edges-higher-after-sharp-selloff-fed-hike-bets-weigh-19446770",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T05:00:47.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/11/1575284/gold-edges-higher-after-sharp-selloff-fed-hike-bets-weigh"
  },
  "original_language": "en",
  "account": "Gold prices experienced a slight rebound on Wednesday following a sharp 3.0% drop in the prior session, however gains were modest as robust US inflation data bolstered predictions of an upcoming Federal Reserve interest rate hike, putting downward pressure on the precious metal. Spot gold rose 0.3% to $4,043.62 per ounce by 0303 GMT after plummeting nearly 3.0% to $4,017.21 on Tuesday. US gold futures for December delivery increased 0.5% to $4,051.10.\n\nAnalysts noted that the market was witnessing a technical correction following Tuesday's significant losses, with investors booking profits and awaiting the next market catalyst. Senior market analyst Matt Simpson from StoneX explained that strong Consumer Price Index (CPI) data and hawkish comments from the Federal Reserve had reignited worries about tightening monetary policy. The probability of a half-percentage-point rate hike in December jumped to 100% from 84% prior to the data, according to CME's FedWatch tool.\n\nWhile gold is traditionally viewed as a hedge against inflation, higher interest rates increase the opportunity cost of holding non-yielding bullion, diminishing its attractiveness to investors. Analyst Soni Kumari from ANZ suggested that positive developments in the Middle East could offer some support to gold from an inflation perspective, but overall, the near-term macro setup for gold appeared subdued.\n\nFed Vice Chair for Supervision Michelle Bowman joined other policymakers in emphasizing that combating inflation remained the central bank's top priority. Philadelphia Fed President Anna Paulson indicated that the Federal Reserve would likely implement additional rate hikes to combat elevated inflation levels. Among other metals, spot silver climbed 1.7% to $52.38 per ounce, and palladium gained 1.3% to $1,038.38.",
  "summary": "WASHINGTON: Gold prices edged higher on Wednesday after a nearly 3.0 per cent slide in the previous session, but gains were limited as stronger-than-expected US inflation data cemented expectations of a Federal Reserve interest rate hike next month, weighing on bullion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Gold edges higher after sharp selloff, Fed hike bets weigh",
        "url": "https://urgent.news/2026/11/11/gold-edges-higher-after-sharp-selloff-fed-hike-bets-weigh",
        "published": "2026-11-11T04:01:38.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}