# Gold, silver plunge as hotter U.S. inflation raises prospect of larger Fed rate hike - Kitco PM Report

> U.S. October CPI rose 0.4% month on month, above expectations, while core CPI increased 0.3%, also exceeding forecasts. The data and hawkish Fed signals boosted the dollar and Treasury yields, sending spot gold and silver sharply lower and increasing the possibility of a larger December rate hike.

- Date: 2026-11-10 · published 2026-11-11T03:14:09.161Z
- Category: macro · region United States · magnitude medium
- Page: https://feedsoft.ai/events/92841-gold-silver-plunge-as-hotter-u-s-inflation-raises-prospect-of-larger-fed-rate
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The dollar’s rise can make dollar-priced commodities more expensive for buyers using other currencies, while expectations of tighter monetary policy can weigh on commodity demand. The report strengthened the dollar.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-18 | [Gold, silver sink as dollar tests yearly highs following hawkish Fed - Kitco PM Report \| Kitco News](https://feedsoft.ai/events/18710-gold-silver-sink-as-dollar-tests-yearly-highs-following-hawkish-fed-kitco-pm.md) | +1.4% | +1.0% |
| DXY | 2021-06-16 | [Gold slides over 1% after Fed projects rate hikes into 2023](https://feedsoft.ai/events/46487-gold-slides-over-1-after-fed-projects-rate-hikes-into-2023.md) | +1.4% | +1.4% |
| DXY | 2023-04-28 | [US dollar firms as inflation data backs Fed hike; yen plunges](https://feedsoft.ai/events/36576-us-dollar-firms-as-inflation-data-backs-fed-hike-yen-plunges.md) | -0.3% | +1.2% |
| DXY | 2024-08-30 | [Gold drops as dollar, yields firm after US inflation report](https://feedsoft.ai/events/28689-gold-drops-as-dollar-yields-firm-after-us-inflation-report.md) | +0.2% | -0.9% |
| DXY | 2026-09-14 | [Copper Slips as Inflation Data Raises Bets on Fed Hiking Rates - Bloomberg](https://feedsoft.ai/events/17392-copper-slips-as-inflation-data-raises-bets-on-fed-hiking-rates-bloomberg.md) | +1.1% | +2.9% |

## Sources

- kitco.com: http://www.kitco.com/news/article/2026-11-10/gold-silver-plunge-hotter-us-inflation-raises-prospect-larger-fed-rate-hike

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.