{
  "id": 19575404,
  "title": "Gold falls as hot inflation figures, higher dollar weigh",
  "url": "https://urgent.news/2026/11/12/gold-falls-as-hot-inflation-figures-higher-dollar-weigh",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T00:17:51.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/11/1575844/gold-falls-hot-inflation-figures-higher-dollar-weigh"
  },
  "original_language": "en",
  "account": "Gold prices dropped by 1.1% to US$3,986.79 per ounce, following a 3% decline on Tuesday, after soaring to a peak of US$4,066.77 earlier in the trading session. US gold futures for December delivery declined by 0.7% to US$4,000.50 per ounce. The Consumer Price Index (CPI) exceeded expectations, prompting market analysts to anticipate higher interest rates at the upcoming December meeting. Bob Haberkorn, senior market strategist at StoneX, explained that the data suggested a need for a rate increase at the December meeting. Gold experienced a 3% drop on Tuesday following news that US consumer prices increased by a larger-than-expected 0.4% in October. Economists surveyed by Reuters had predicted a 0.3% rise. Prior to the release, Federal Reserve Governor Christopher Waller suggested that a core inflation reading of 0.3% in October would lead him to consider a half-point rate hike during the December meeting. While markets had priced in an 87% probability of a 25-basis-point rate hike in December, bets on a 50 basis point increase surged to 12.9% from zero following the CPI reading, pushing the dollar index to its highest level since April 2025. A stronger dollar makes bullion more costly for international buyers, and the non-yielding metal becomes less appealing in a high-interest-rate environment. Haberkorn noted that strong purchases by major consumers like China and other central banks have supported gold prices despite the fundamental challenges posed by the Fed and interest rates. Palladium prices increased by 1.8% to US$1,043.00 per ounce, while silver rose by 0.7% to US$51.88 per ounce.",
  "summary": "Spot gold was down 1.1 per cent at US$3,986.79 per ounce by 1.51 pm ET (1851 GMT), extending Tuesday's almost 3 per cent fall after recovering to as high as US$4,066.77 earlier in the session. US gold futures for December delivery settled 0.7 per cent lower at US$4,000.50 per ounce.",
  "key_points": [
    "Gold prices fell 1.1% to US$3,986.79 per ounce",
    "CPI exceeded expectations, signaling potential rate hikes",
    "Stronger dollar makes gold less attractive for international buyers"
  ],
  "editors_take": "Stubbornly high inflation figures shift market expectations toward aggressive interest rate hikes, making non-yielding gold less attractive to investors while strengthening the dollar against international buyers.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}