Gold Prices Recover Above $4,040 as Investors Assess Federal Reserve Rate Hike Expectations - Yahoo Finance

AI desk brief

Spot gold rose 0.22% to $4,041.67/oz at 04:56 GMT Wednesday, following a 2.6% decline that the report attributed to stronger-than-expected October US inflation and reassessed Fed tightening expectations. Gold futures gained 0.48% to $4,049.52/oz; the dollar index edged up 0.02% to 102.27 after earlier gains, while Treasury yields had risen. Further dollar strength could pressure gold, although higher nominal yields alone do not establish a rise in real yields. Silver gained 1.6% to $52.3730/oz, while platinum and palladium each rose 1.7%, to $1,566.42 and $1,044.25/oz.