Gold price today: spot gold (XAUUSD) held around $4,042 on Wednesday morning after sliding about 2.6% on Tuesday to close near $4,032, as October US CPI came in at 0.4%, above forecast. The dollar and the US 10-year Treasury yield jumped, with the yield near 4.99%, and markets now fully price a December Fed rate hike. The US bond market is closed today for Veterans Day.
Updated Wed 11 Nov 2026 · 02:27 GMT · Spot gold price as of the Asian morning, 11 Nov 2026 (around 02:20 GMT)
vs Tuesday 10 Nov close · Gold slid about 2.6% on Tuesday to close near $4,032 from around $4,139, touching an intraday low near $4,021 after US CPI beat forecasts (Trading Economics, Reuters)
Key points for gold today
- 1Spot gold is around $4,042 (+0.23%) this morning after sliding about 2.6% on Tuesday to an intraday low near $4,021; it is still down about 3.1% over the past month
- 2October US CPI rose 0.4% m/m, above the 0.3% forecast, with Core up 0.3%. Fed Governor Waller opened the door to a 0.50% hike. CME FedWatch now fully prices a 0.25% hike in December, with the odds of a 0.50% move at about 10.5%
- 3The key support is $4,000, followed by around $3,893; resistance is near $4,104 and $4,147
- 4The US bond market is closed today and there is no high-impact US data. Next highlights: UK GDP (Thu 07:00 GMT) and US PPI (Fri 13:30 GMT)
3 factors driving gold
- CPIHot US CPI lifts Fed hike bets
October CPI rose 0.4% m/m, above the 0.3% expected in a Reuters poll, though slower than September’s 0.6%. Core CPI rose 0.3%, above the 0.2% forecast. Citing CME FedWatch, Reuters says markets now fully price a 0.25% hike in December, and the odds of a 0.50% move rose to about 10.5% from 0% before the data, triggering heavy selling in gold.
- FEDFed officials sound hawkish
Fed Governor Christopher Waller opened the door to a 0.50% hike in December if inflation keeps accelerating, while Dallas Fed President Lorie Logan said more hikes are still needed, according to Trading Economics and Investing.com. The dollar index (DXY) rose to around 102.2 and the 10-year yield climbed to around 4.99%, raising the cost of holding non-yielding gold.
- $4K$4,000 remains key support
Standard Chartered says gold is still trading above the key $4,000 per ounce level, according to Reuters. On Wednesday morning the price recovered slightly, by about 0.2%, after the sharp drop. With the US bond market closed for Veterans Day, liquidity may be thin and prices could react to Fed speakers or Middle East headlines.
Support and resistance levels to watch
| $4,147 | R2 | Key resistance per RoboForex (4,146.90), which gold failed to break before CPI |
| $4,104 | R1 | Former support per RoboForex (4,104.40), broken after CPI |
| $4,042 | NOW | Latest price (Trading Economics, around 02:20 GMT) |
| $4,000 | S1 | Key level cited by Standard Chartered (Reuters) |
| $3,893 | S2 | Zone where price previously rebounded, per RoboForex |
If gold rises / if it falls
Reclaims $4,104
The next level is resistance near $4,147, according to RoboForex. A pullback in the dollar after its sharp rally, or other Fed officials pushing back on a 0.50% hike, would help.
Breaks below $4,000
Selling could extend toward around $3,893, where price previously rebounded. RoboForex sees the short-term trend on the 4-hour chart as bearish. Risks include rising bets on a 0.50% Fed hike or a hot US PPI print on Friday.
Levels as of 10 Nov 2026, based on RoboForex analysis and Standard Chartered comments via Reuters. Not trading advice.
Releases that move gold, Wed 11 – Fri 13 Nov (GMT)
- US bond market closed (Veterans Day)Stock markets open as usual; thin liquidity in bondsMED
- US EIA crude oil inventories (weekly)Delayed from Wednesday due to the holidayMED
- US PPI (Oct)Markets expect +0.4% m/m. A hot print could lift Fed hike bets and weigh on goldHIGH
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