News report 🏭 Commodities 🌍 United States

Gold Slips 4.5% as 5.15% US Yields and Fed Hike Bets Fuel Dollar Rally

Gold trades near 13-month lows at $3,879 as rising US Treasury yields and a strong Dollar respond to October's 6.5% YoY PPI print and hawkish Fed commentary.

📅 November 13, 2026 🕐 1 min read

3 assets impacted (Commodities, Forex, Bonds). Net bias: 2 Bullish, 1 Bearish, 0 Neutral. Strongest signal: XAU ↓ 7/10 (85% confidence).

📊 Affected Assets (3)

XAU

Bearish 🤖 85%

📅 Short-term 🌍 GLOBAL · Explicit

Gold is down nearly 4.5% on the week to $3,879, near 13-month lows, after a hot October PPI (6.5% YoY) and CPI cemented expectations of a Fed rate hike in December, with markets pricing a nearly 90% chance of a 25-basis-point increase. Higher US yields at 5.15% and a 19-month-high Dollar are headwinds for the yield-less metal, and the technical structure points to a test of $3,852 and then $3,800.

Catalysts

▼ October PPI at 6.5% YoY, up from 6.3%, released this week
▼ Nearly 90% market-implied odds of a 25-bp Fed hike in December

Risk Factors

▲ Gold already bounced 0.14% on Friday as the Dollar's advance capped
▲ Bottoming observed near $3,873, slightly above the day's low of $3,867

USD

Bullish 🤖 80%

📅 Short-term 🌍 US · Explicit

Hot October PPI (6.5% YoY) and hawkish Fed speakers this week, including Daly, Collins and Goolsbee, have driven the Dollar Index to a 19-month high of 103.42, up 0.23% at 103.41. Markets price a nearly 90% chance of a 25-bp Fed hike in December, supporting further Dollar strength.

Catalysts

▲ DXY refreshed a 19-month high at 103.42
▲ Nearly 90% priced probability of a 25-bp December Fed hike

Risk Factors

▼ DXY's advance was capped on Friday alongside Gold's small bounce
▼ Next week's FOMC minutes and Retail Sales could alter rate expectations

US10Y

Bullish 🤖 80%

📅 Short-term 🌍 US · Explicit

US Treasury yields continued to rise during the week, with the 10-year yield up almost two basis points at 5.15%, reflecting market expectations of higher Fed rates after the hot PPI print and hawkish Fed commentary. That direction favors further yield gains, though the weekly move so far is small.

Catalysts

▲ 10-year yield at 5.15%, up almost two basis points on the week
▲ Nearly 90% market-implied odds of a December Fed rate hike

Risk Factors

▼ The weekly yield rise is modest at almost two basis points
▼ Next week's FOMC minutes and Retail Sales could shift rate expectations

🧭 Full analysis of these assets

🎯 Key Takeaways

Gold is down nearly 4.5% this week, trading at $3,879 near 13-month lows.
October headline PPI rose 6.5% YoY, exceeding the 6.3% print from September.
The US Dollar Index reached a 19-month high of 103.42, up 0.23% on the day.
Markets are pricing a nearly 90% probability of a 25-basis-point Fed rate hike in December.
The US 10-year Treasury yield rose almost two basis points to 5.15%.

📝 Executive Summary

Gold is heading for a weekly decline of nearly 4.5% as hot US inflation data cements expectations for a December Federal Reserve rate hike. With markets pricing a nearly 90% chance of a 25-basis-point increase, the US Dollar hit a 19-month high of 103.42, pressuring the yield-less metal toward the $3,852 support level.

❓ FAQ

XAU · Why is Gold falling this week?

Hot US inflation data, including October PPI at 6.5% YoY, has raised expectations of a Federal Reserve rate hike in December, pushing US yields and the Dollar higher, which weighs on Gold.

XAU · How low could Gold go?

The article flags a test of the year-to-date low at $3,852, then the $3,800 psychological level, and further out the $3,500 level from the April 22, 2025 swing high if support breaks.

USD · Why is the Dollar rising?

Hot US inflation data this week has increased the chances of a Fed rate hike in December, and rising Treasury yields at 5.15% are a tailwind for the Dollar, which hit a 19-month high.

US10Y · Why are US yields rising?

Hot inflation data, including October PPI at 6.5% YoY, and hawkish comments from multiple Fed officials have lifted expectations of a December rate hike, pushing yields higher.

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