11.11.2026 07:02
Gold prices fell sharply amid inflation data in the U.S. that exceeded expectations and rate hike messages from the Fed. While an ounce of gold remains below $4,050, a gram of gold is trading at 6,525 lira. The expectation of a rate hike for December in the markets rose to 91%.
The impact of US-originated developments continues in global gold markets. October inflation in the US exceeding expectations and Fed officials' statements that a tighter monetary policy could be implemented increased selling pressure on precious metals. While ounce gold declined by about 3 percent in the previous session, it moved below the 4,050 dollar level in the new trading day.
US INFLATION EXCEEDED EXPECTATIONS
October inflation data announced in the US strengthened expectations of interest rate hikes in the markets. Headline inflation fell to 0.4 percent in October, after the 0.6 percent monthly increase recorded in September. However, the data came in above economists' expectation of 0.3 percent.
Core inflation, excluding food and energy prices, remained at 0.3 percent for the third consecutive month. While the markets expected core inflation to be 0.2 percent, the actual figure showed that price pressures continued in the US economy.
RATE HIKE MESSAGE FROM THE FED
US Federal Reserve Board Member Christopher Waller announced that he supports further tightening of monetary policy in December. Waller stated that if inflation continues to remain high, he would prefer a 50 basis point interest rate hike.
Dallas Fed President Lorie Logan also indicated that stronger steps may need to be taken to bring inflation under control. Statements from Fed officials strengthened the expectation that interest rates in the US could remain at high levels for a longer period.
RATE HIKE EXPECTATION ROSE TO 91 PERCENT
Following the statements of Fed officials and the inflation data, expectations for December changed in money markets. The probability of an interest rate hike, which was at 84 percent in the previous session, rose to about 91 percent.
Rising interest rates in the US can reduce the appeal of gold, which has no interest yield, for investors. Therefore, the expectation that the Fed will implement a tighter monetary policy creates pressure on gold prices.
LATEST SITUATION IN OUNCE GOLD
Ounce gold started Wednesday, November 11, at 4,030 dollars. During the day, the lowest level seen was 4,026 dollars and the highest was 4,052 dollars. According to the latest data reported, ounce gold is trading at 4,041 dollars.
LATEST SITUATION IN GRAM GOLD
Gram gold started the day at 6,509 lira. During the day, it saw the lowest levels of 6,503 lira and the highest of 6,544 lira. According to the latest data reported, gram gold is finding buyers at 6,525 lira.
EYES TURNED TO THE FED IN GOLD PRICES
In the gold market, statements by Fed officials and economic data coming from the US will be decisive in the coming period. Expectations regarding the interest rate meeting to be held especially in December are important for the direction of ounce gold.
While inflation in the US remaining above expectations strengthens the possibility that the Fed may turn to more aggressive interest rate hikes, it is assessed that this situation may continue the pressure on gold prices.