US October headline CPI rose 0.4% month on month, above the 0.3% expected, and core CPI was unchanged at 0.3% against a 0.2% forecast. Gold slipped below $4,000 an ounce and silver approached $50 as markets priced nearly a 100% chance of a December rate hike.
Sticky inflation and expected Fed tightening strengthen the dollar and raise real yields, which weighs on dollar-priced commodities and can reduce the appeal of hedging assets. The move feeds into broader financing costs for agricultural trade.
After 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.