Gold erases post-midterms advances as higher real yields and US dollar hurt. What's next?
Gold extended the selloff yesterday as the hawkish repricing continued to weigh on the precious metal against a backdrop of advancing real yields and more robust US dollar. Elsewhere, the US-Iran negotiations stay at a stalemate.
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On the gold price front, gold extended the selloff yesterday as the hawkish repricing continued to weigh on the precious metal against a backdrop of advancing real yields and more robust US dollar, according to investingLive. Elsewhere, the US-Iran negotiations stay at a stalemate.
Inside the Gold price story
Fed's Hammack spoke following the CPI data and she also left a door open for a larger rate increase. At the moment, dealers are pricing in just a 12% probability of a 50 bps hike but the probabilities could rise further in case more Fed members support such a move or do not push back against this possibility. US Vice President Vance is considering face-to-face discussions with a top Iranian security official in an effort to end the war, the WSJ reported.
Looking ahead, I would anticipate rate increases to put even more downward pressure on the share market and long-term Treasury yields alongside went up growth fears, barring an end to the Iran war. We can see that gold (CFD contract) declined back below the broken trendline and it is now targeting the 3,885 support where we have also the big upward trendline for confluence on the daily chart.
We can see that the selloff extended further following the price broke below the minor 4,040 support and the upward trendline on the 4 hour chart.
Why traders are watching gold price
Gold is a safe-haven asset that tends to benefit from falling real interest rates, a weaker dollar and rising geopolitical risk. Central-bank buying has also become an important source of demand.
Because gold pays no interest, its price is sensitive to changes in bond yields and expectations for central-bank policy.
Market reaction and data
On the currency side, the latest ECB daily reference rates (2026-11-11) show EUR/USD 1.1127, GBP/USD 1.3307, AUD/USD 0.6859, NZD/USD 0.5583, USD/JPY 159.23, USD/CHF 0.8299, USD/CAD 1.4235, USD/CNY 6.6707. These are reference fixes, not live quotes.
What to watch next for gold price
Traders will watch US real yields, the dollar, central-bank demand and geopolitical headlines for the next move in bullion.
Key scheduled releases on the economic calendar:
- GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
- USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
- USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%
Follow every update in our Top 10 Forex News Today, read UK September GDP tops expectations as resilient growth leaves BOE December tightening move on track or see all of today's top market news.
FAQ
What is the latest gold price news?
Gold extended the selloff yesterday as the hawkish repricing continued to weigh on the precious metal against a backdrop of advancing real yields and more robust US dollar.
Why does gold rise when interest rates fall?
Gold pays no yield, so lower interest rates reduce the cost of holding it compared with bonds or cash, which tends to support its price.
Where does this information come from?
This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
