{
  "id": 19613810,
  "title": "Gold falls to over one-week low on firm dollar, Fed rate hike bets",
  "url": "https://urgent.news/2026/11/12/gold-falls-to-over-one-week-low-on-firm-dollar-fed-rate-hike-bets-19613810",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T06:05:55.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40448551/gold-falls-to-over-one-week-low-on-firm-dollar-fed-rate-hike-bets"
  },
  "original_language": "en",
  "account": "Gold prices experienced a decline on Thursday, reaching a low not seen in over a week, due to stronger-than-anticipated US inflation data and hawkish remarks from Federal Reserve officials. These factors have strengthened the dollar and increased expectations of an interest rate hike next month. The price of spot gold dropped by 0.2%, settling at $3,977.99 per ounce by 0506 GMT, after previously hitting its lowest level since November 4. US gold futures for December delivery also fell by 0.4% to $3,983.20. The value of the dollar rose to a 19-month high against other major currencies on Thursday, making gold priced in dollars more expensive for investors with different currencies. Ilya Spivak, the head of global macro at Tastylive, noted that the gold market had undergone a significant pullback after the US inflation data and the rise in rate hike expectations, but the market is currently uncertain about a follow-through in prices. The likelihood of a half-percentage point Fed rate hike next month has increased after data released on Tuesday showed that US inflation had accelerated more than expected in October. Traders are now considering it likely that the central bank will raise interest rates next month and again in March. While gold is generally viewed as an inflation hedge, higher interest rates increase the opportunity cost of holding non-yielding assets, thereby reducing its attractiveness to investors. The market is now waiting for the release of the US Producer Price Index report, due on Friday. Although there are two potential risks in the near term, including oil prices, yields, and the US dollar, analysts at OCBC do not anticipate a bearish outlook for gold in the medium term. Among other metals, palladium saw a rise of 0.5% to $1,032.63 per ounce on Wednesday, following its highest level since October 22.",
  "summary": "Gold prices fell on Thursday , touching a more than one-week low, after stronger-than-expected US inflation data and hawkish remarks from Federal Reserve officials boosted the dollar and cemented expectations of an interest-rate hike next month. Spot gold fell 0.2% to $3,977.99 per ounce by 0506 GMT, after touching its lowest since November 4 earlier. US gold futures for December delivery dropped…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "New Zealand Dollar depreciates as hawkish Fed rate hike bets lift US Dollar",
        "url": "https://urgent.news/2026/11/12/new-zealand-dollar-depreciates-as-hawkish-fed-rate-hike-bets-lift-us",
        "published": "2026-11-12T08:13:44.000Z"
      }
    ]
  },
  "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."
}