Global Gold Jumps 1.4%, Holds Above $4,120 as Markets Eye U.S. CPI for Fed Rate Cue - BigGo Finance

AI desk brief

• Gold rose about 1.4% on November 9, 2026, with spot near $4,123/oz and futures around $4,133, following nearly 5% gains the previous week. The report attributes support to softer oil and easing energy-inflation concerns amid U.S.-Iran negotiations.
• Core CPI is forecast to slow from 0.3% to 0.2%; the report puts December Fed hike odds near 81% after stronger payrolls. Softer inflation could temper tightening expectations, but stronger employment provides a counterforce.
• Leng Hong says holding $3,970 and breaking $4,150 would improve the outlook; below $3,920, prices could test $3,800. Its concluding assessment nevertheless expects limited downside below $3,875 and any retest of the prior low to be brief, underscoring these are forecasts rather than established floors.