Why Is Gold Down Today?
Gold fell about 3% on Nov 12 to near $3,870 per ounce, its lowest level since October 2025. Here's why:
1️⃣ Hot US inflation: October CPI came in hotter than expected.
2️⃣ Fed hike bets: markets are pricing another rate hike at the Fed's December meeting.
3️⃣ Dollar at a 19-month high: gold is priced in dollars, so it gets more expensive for other currencies and demand cools.
4️⃣ Higher Treasury yields: gold pays no interest, so rising yields make it less attractive.
🔎 What to watch: Friday's US producer prices (PPI) report.
💬 What's your take: buying opportunity or more downside ahead?