Morning brief · Wednesday, Nov 11Tone of the reports: Mixed
Gold steadies near $4,038 as hotter inflation keeps Fed hike fears front and center
At 8:35 AM ET, spot gold is $4,038.22 an ounce (+0.14%), after a sharp inflation-driven drop and an overnight rebound. Silver ($52.74, +2.31%), platinum ($1,572.25, +2.06%), and palladium ($1,085.68, +5.44%) are firmer this morning, but the last 30 days are still negative across the board. In our store today, the lowest in-stock premiums start at 2.01% over Ask for gold coins and 6.51% over Ask for silver rounds.
AI summaryWritten automatically with AI from 40 linked reports and our own price data, Nov 11, 8:35 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made
What happened
Hotter-than-expected U.S. inflation and fresh Fed commentary pushed markets toward pricing a larger (half-point) rate hike next month, which multiple outlets said weighed on gold after the selloff.
SourcesReuters: Fed officials open door to a half-percentage-point rate hike as inflation worsens2: Gold rebounds after sharp selloff though Fed hike bets weigh3: Gold gains after steep drop, but hawkish central bank signals weighMetalsDaily: GOLD Holds $4,030 After Hot CPI Puts a 50bp Fed Hike on the Table2: GOLD dips after Fed's Waller drops the 50 bps hike bomb and US CPI comes above e..Kitco: Gold, silver plunge as hotter U.S. inflation raises prospect of larger Fed rate hike - Kitco PM Report
Gold is rebounding/steadying after the sharp drop, but several reports emphasized that hawkish central-bank signals and rising rate-hike bets are still capping the bounce.
SourcesReuters: Gold gains after steep drop, but hawkish central bank signals weigh2: Gold rebounds after sharp selloff though Fed hike bets weighDow Jones: Gold Rebounds But Fed Hike Expectations Cap Gains — Market TalkInvesting.com: Gold steadies after inflation-driven selloff amid Fed hike betsYahoo Finance: Gold steadies near $4,035 after sharp selloff as December Fed hike bets firm+1
Silver coverage focused on a sharp correction from record highs, with some brokerages looking for a wide trading range next year rather than a one-way move.
A new gold futures contract is set to launch in Singapore that links pricing with offshore yuan (CNH) trading, which could broaden Asian price-discovery and hedging options.
SourcesStock Titan: Starting Nov. 16, a new gold contract will link Singapore prices with Chinese-yuan trading.GlobeNewswire: Abaxx to Launch CNH-Denominated Singapore Gold Futures on November 16
Central-bank gold themes stayed in focus: one report highlighted central banks looking to Asia for storage, while another discussed European interest in repatriating gold reserves.
SourcesDbs: Central banks eye Asia for safe gold storageMetalsDaily: Why European Central Banks Want Their Gold Back
Mining/supply-side headlines included Barrick moving toward a public listing of its North American gold assets via an SEC filing (separately reported by two outlets).
SourcesDow Jones: Barrick Moves Toward Listing North American Gold Assets With SEC Filingmining.com.au: Barrick moves ahead with North American gold IPO