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Spot gold fell below $4,000 an ounce in late US trading on Wednesday as the dollar strengthened and expectations for further Fed rate increases rose. The decline followed Tuesday's hotter-than-expected CPI report, which showed headline inflation up 0.4% and core up 0.3%.
Silver was modestly higher.
Higher US rate expectations and a stronger dollar reduce demand for non-yielding assets and lift the dollar's value against trade currencies. Feed buyers outside the US may see import costs shift as currency values move.
kitco.comKitco NewsWireNov 11, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
