Gold Drops Below $4,000 Again. Will Friday’s Inflation Data Deepen the Slide?

The gold price fell to $3,963.44 on Thursday, slipping back below $4,000 for the third time since late October. Hotter October inflation has pushed traders to fully price in a December Federal Reserve (Fed) hike. A quarter-point move is already in the price. Friday’s Producer Price Index (PPI) report could shape whether bets on a half-point hike grow and drag gold lower. Follow us on X to get the latest news as it happens Higher Yields Have Gold on Edge Before Friday October’s Consumer Price Index (CPI) rose 0.4% on the month, above the 0.23% forecast . The odds of a half-point Fed rate hike have jumped to 11.2%, up from zero a week ago. Two-year Treasury yields have climbed 25 basis points this week.

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