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Spot gold traded just below $4,000 an ounce after persistent inflation pressures and hawkish Fed commentary raised expectations of a December rate increase. Markets fully priced a 25-basis-point hike, with some investors considering a 50-basis-point move.
Two-year Treasury yields rose sharply on the shift in rate expectations.
Higher expected borrowing costs and a firmer dollar reduce gold's appeal, since bullion pays no interest, so the outlook for precious metals prices is weaker.
investing.comRoushni NairNov 12, 2026After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.
