Gold Extends Slide Below $4,000 as Rising US Inflation, Fed December Hike Bets Pressure Prices
TradingKey·
- Gold prices extended their decline and fell below 4,000 USD, reaching a daily low near 3,968 USD on November 12.
- The drop was driven by higher-than-expected US October CPI inflation data and rising market expectations for a December Federal Reserve rate hike.
- A strengthening US dollar and rising Treasury yields further pressured gold, though continued central bank purchases provided some medium-term support.