Significant Gold Price Drop in Global Market Amid Interest Rate Hike Fears - Bd24live

AI desk brief

Spot gold fell 1.5% to $4,078.53/oz on the reported November 10 session, while December futures declined 0.7% to $4,086.30; the year is unspecified. The report attributes pressure to hawkish comments from Fed Governor Christopher Waller and rising short-term US yields, citing CME FedWatch odds of 99% for a December hike. Tighter policy could weigh on gold if expected real yields rise, although nominal yields alone do not establish that channel. Silver fell 1.9% to $52.42/oz, with platinum and palladium also lower. Capital.com analyst Kyle Rodda said contained Middle East escalation and continued oil declines could support gold through inflation and rate expectations; October CPI and subsequent PPI releases remained pending.