Gold Tumbles Toward $4,000 as Hotter-Than-Expected CPI Boosts Fed Rate-Hike Bets, Bulls Eye $3,975 Support - TradingKey

AI desk brief

• Gold traded near $4,040 in the November 11 Asian session, up 0.3% after a 2.61% decline. TradingKey attributes the selloff to stronger-than-expected October CPI and subsequent dollar and Treasury-yield gains; the year is unspecified.
• Headline CPI rose 0.4% month-on-month versus 0.3% expected; core rose 0.3% versus 0.2%. The report says December hike pricing reached 25 basis points, with a 10% probability of 50 basis points. Further dollar strength could pressure gold.
• TradingKey identifies $4,013–$4,000 support, then $3,975.48: holding the latter preserves its bullish reversal scenario; failure targets $3,900. A break above $4,150 resistance would open $4,200–$4,230.