Gold price: Gold keeps near recent highs as markets await US CPI and Iran breakthrough
Gold edged higher yesterday but couldn't extend the advances above the latest highs as markets continue to wait for concrete US-Iran developments and the US CPI data. The data today could seal a tightening move for the December FOMC meeting, with market players already pricing…
In this article
On the gold price front, gold edged higher yesterday but couldn't extend the advances above the latest highs as markets continue to wait for concrete US-Iran developments and the US CPI data, according to investingLive. The data today could seal a tightening move for the December FOMC meeting, with market players already pricing in an 84% probability on the US CPI side.
Inside the Gold price story
Meetings between Trump, Vance and the Qatari PM were positive, and they discussed ways to progress discussions with Iran, it was reported. This is because rate increases at this point should put even more downward pressure on the share market and long-term Treasury yields alongside growth fears, barring an end to the Iran war. If we get a de-escalation, we could see a dovish repricing on easing inflation fears, which should also support gold in the short-term at the same time.
Why gold price matters for traders
Inflation figures decide how long central banks keep interest rates high. Hotter-than-expected readings usually lift bond yields and the local currency, while softer data raise hopes of rate cuts.
Price data feed straight into central-bank decisions, which makes them some of the most market-moving releases on the calendar for forex, bonds and stocks.
Market reaction and data
On the currency side, the latest ECB daily reference rates (2026-11-09) show EUR/USD 1.1193, GBP/USD 1.3416, AUD/USD 0.6894, NZD/USD 0.5613, USD/JPY 157.95, USD/CHF 0.8187, USD/CAD 1.4103, USD/CNY 6.6728. These are reference fixes, not live quotes.
What to watch next for gold price
Next in focus are the coming inflation releases, central-bank reaction to them and changes in market pricing for future rate moves.
Key scheduled releases on the economic calendar:
- USD Core CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.2%, previous 0.3%
- USD CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.3%, previous 0.6%
- 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%
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FAQ
What is the latest gold price news?
Gold edged higher yesterday but couldn't extend the advances above the latest highs as markets continue to wait for concrete US-Iran developments and the US CPI data.
Why do inflation numbers move markets?
Inflation data change expectations for central-bank interest rates, and rate expectations drive currencies, bond yields and stock valuations.
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.
