Gold closes with a minus of $2.3 – Another high U.S. CPI figures expected

Gold futures closed lower on Wednesday (Nov. 9) as dollar strength pressured the market while investors await the release of the U.S. Consumer Price Index (CPI) today.

  • The gold contract was down $2.3, or 0.13%, at $1,713.7 an ounce.
  • Silver was down 17.5 cents, or 0.81%, at $21.327 an ounce.
  • The platinum contract was down $17.2, or 1.7%, at $997.3 an ounce.
  • Palladium fell $73.40, or 3.8%, at $1,859.20 an ounce.

The dollar index rose 0.83% against the six major currencies in a basket of currencies to 110.5490. The appreciation of the dollar made dollar-denominated gold contracts more expensive for investors holding other currencies.

Investors are awaiting the release of the U.S. Consumer Price Index (CPI) today. Meanwhile, analysts forecast that the overall consumer price index rose 7.9% in October from a year earlier. The core CPI (excluding food and energy prices) is expected to rise 6.5% year-over-year in October, down from 6.6% in September.

The Spot Market is Open

Thursday, November 10, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
11.30
1,709.70
1,710.70
+3.00
+0.18%
1,704.00
1,711.20
Silver
11.30
21.10
21.20
+0.07
+0.33%
20.95
21.26
Platinum
11.30
988.00
998.00
+6.00
+0.61%
979.00
1,000.00
Palladium
11.20
1,802.00
1,952.00
+6.00
+0.33%
1,789.00
1,960.00
Rhodium
06.00
12,150.00
14,150.00
0.00
0.00%
12,150.00
14,150.00

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