10/11/2026 – Daily Reports
GOLD PULLS BACK AHEAD OF US INFLATION DATA AS FED RATE HIKE BETS RISE
- Gold Prices: Spot gold declined 0.6% to $4,114/oz, retreating after gaining more than 1% in the previous session as investors locked in profits. US gold futures edged 0.2% higher to $4,123.50.
- US Inflation: Markets are now focused on today’s US CPI report (13:30 GMT), which could provide fresh clues on the Fed’s monetary policy outlook. Friday’s PPI data will also be closely watched.
- Fed Expectations: Traders are pricing in an 84% probability of a December rate hike, according to CME FedWatch. Higher interest rates increase the opportunity cost of holding non-yielding gold, putting pressure on bullion.
- Geopolitical Developments: Trump signaled that the US would hold off on further military strikes against Iran for now, easing immediate escalation concerns. Oil prices extended their losses amid hopes of reduced tensions.
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Global Market News Summary — 10 November 2026
- The Nasdaq Composite jumped 2.74% on Monday, as AMD, Broadcom and the wider semiconductor sector recovered from a five-week rout. Nvidia closed down 4% after its board opened an investigation into CEO Jensen Huang’s relationship with a businesswoman whom US intelligence agencies identify as a Chinese spy. A new investor lawsuit was also filed against Nvidia on Monday.
- The DAX closed Monday up 1.73%, recovering from Friday’s 1.92% drop and moving back above 26,000. Infineon (+5.97%), Siemens Energy (+5.07%) and Airbus (+4.71%) led gains, with sentiment supported by lower oil prices after President Trump downplayed further strikes on Iran.
- The Nikkei 225 closed on Monday gains 2.33%, ending a six-session losing streak. Japan Tobacco fell 15.95% after Russia seized its assets in the country. Fast Retailing made the largest positive contribution, and the yen traded near 158.23 per dollar.
- Spot gold traded at $4140 on Monday, up 1.18%, recovering Friday’s losses that followed the jobs report, as the dollar softened. Kitco reported that a steep drop in crude prices and renewed hopes for a diplomatic resolution to the US-Iran conflict also supported the metal.
- Brent futures settled down 5.85%, at $92,19 on Monday and fell more than $7 in post-settlement trade to its lowest since late August, after Trump downplayed renewed strikes on Iran. Qatar’s prime minister took an Iranian proposal for an interim deal to reopen the Strait of Hormuz to the White House. In Asian trading on Tuesday, Brent fell a further $1 to $91.31. US Strategic Petroleum Reserve stocks dropped to 279.5 million barrels, the lowest since October 1982. US-Russia-Ukraine talks open in Abu Dhabi on 10–11 November.
