Gold Falls Nearly 3% on November 10 as US Inflation Exceeds Forecasts
On November 10, 2026, higher-than-expected US inflation data lifted the dollar and US Treasury yields, sending international gold prices lower. Spot gold fell 2.7%, while December gold futures closed down 2.0%. That afternoon, SJC gold was quoted at 137.9 million to 140.9 million Vietnamese dong per tael in Hanoi.
On November 10, 2026, higher-than-expected US inflation data pushed up the dollar and US Treasury yields, while international gold prices fell nearly 3%. As of 1:54 a.m. Vietnam time on November 11, spot gold was down 2.7% at US$4,028.39 per ounce; gold futures for December 2026 delivery closed down 2.0% at US$4,030.20 per ounce.
Gold jewelry on display at a shop in Baghdad, Iraq.（VietVance）
Data released by the US Department of Labor’s Bureau of Labor Statistics showed that the consumer price index rose 0.4% month on month in October, above economists’ earlier forecast of 0.3%; it rose 0.6% in September. Marex analyst Edward Meir said the higher-than-expected inflation data put short-term pressure on gold.
Federal Reserve Governor Christopher Waller had previously said he would support more aggressive tightening if the inflation data ran too hot. CME’s FedWatch tool showed that markets were almost certain the Fed would raise interest rates by 0.25 percentage points in December; the estimated probability of a 0.5 percentage point increase rose from 0% before the data release to 10%. A stronger dollar made gold more expensive for holders of other currencies, while rising Treasury yields increased the opportunity cost of holding gold.
In Vietnam, on the afternoon of November 10, Công ty Vàng bạc đá quý Sài Gòn quoted SJC gold in the Hanoi market at 137.9 million Vietnamese dong per tael to buy and 140.9 million dong per tael to sell.
Source: VietVance
