# Gold drifts below $4,000 as high US yields fuel December Fed hike odds

> Gold fell below $4,000 for a second straight day after US October CPI rose 0.4% month on month, above forecasts, and core CPI rose 0.3% for a third month. Fed Governor Waller said he would prefer a 50 bps hike if core inflation reached 0.3%. CME FedWatch showed an 87% chance of a 25 bps hike in December, and the 10-year Treasury yield rose to about 5%.

- Date: 2026-11-11 · published 2026-11-12T12:13:23.738Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/95437-gold-drifts-below-4-000-as-high-us-yields-fuel-december-fed-hike-odds
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher US yields and rising hike odds strengthen the dollar, which tends to pressure commodity prices and raises borrowing costs for feed inventories and farm credit. The shift is a macro driver rather than a direct supply change for feed ingredients.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-10-28 | [Gold down 1% as dollar, yields rise on Fed rate-hike bets](https://feedsoft.ai/events/39036-gold-down-1-as-dollar-yields-rise-on-fed-rate-hike-bets.md) | +1.2% | -2.4% |
| DXY | 2026-09-24 | [Japanese Yen struggles as Fed rate hike bets drive US yields higher](https://feedsoft.ai/events/17708-japanese-yen-struggles-as-fed-rate-hike-bets-drive-us-yields-higher.md) | +0.7% | +1.0% |
| DXY | 2022-11-03 | [Gold dips as hawkish U.S. Fed lifts dollar, yields](https://feedsoft.ai/events/38593-gold-dips-as-hawkish-u-s-fed-lifts-dollar-yields.md) | -1.0% | -4.2% |
| DXY | 2020-09-17 | [Dollar edges higher as Fed outlook lifts U.S. yields \| Financial Post](https://feedsoft.ai/events/7697-dollar-edges-higher-as-fed-outlook-lifts-u-s-yields-financial-post.md) | +1.6% | +0.6% |
| DXY | 2020-08-27 | [Gold dives 2% as dollar, yields gain after Fed comments](https://feedsoft.ai/events/51525-gold-dives-2-as-dollar-yields-gain-after-fed-comments.md) | -0.5% | +0.8% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/gold-drifts-below-4-000-as-high-us-yields-fuel-december-fed-hike-odds-202611111838

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