🥇 Morning Gold Brief | November 10
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📊 Key figures
· COMEX gold: $4,147.4/oz (+1.66%)
· Shanghai Gold Au99.99: 882.3 yuan/g (+0.60%)
· US Dollar Index DXY: 101.67
· US Treasury 10Y: 4.85% (20-day change: -39 bp)
· Approx. real interest rate (10Y−CPI): +1.15%
· Brent crude: $92.81
· Federal funds rate upper bound: 4.00%
· CPI year-over-year: 3.70% PPI: 6.34%
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🔍 Gold price drivers (current)
· US Treasury yield trend +52 (bullish)
· Safe-haven sentiment +47 (bullish)
· Oil-price pass-through +44 (bullish)
· Policy pricing -27 (bearish)
· U.S. Dollar Index +24 (bullish)
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🎯 Market pricing for the next FOMC meeting
· Hike 80.0% / no change 18.5% / cut 1.1%
· Pricing as of: 2026-11-10
🏦 Central banks’ net gold purchases over the past 12 months: approx. +305 tonnes
📉 U.S. debt/GDP: 121.2%
😰 VIX: 19.9 ｜ SPDR Gold ETF holdings: 1,041.4 tonnes
💡 In a nutshell: The real interest rate (10Y−CPI) is the direct anchor for gold prices; its current reading, together with FOMC pricing, determines the short-term direction
What’s your take on gold today? Share your thoughts in the comments 👇
⚠️ Compiled from public sources; not investment advice