Gold steady at $4,116 ahead of US inflation data

November 10, 2026 (MLN): Gold prices were more or less steady on Tuesday as investors await US inflation data for cues on the Federal Reserve’s policy direction.

Currently, spot gold is up 1.24% to $4,116.27 an ounce as of [12:33 pm] PST, according to data reported by Mettis Global.

US President Donald Trump said on Monday he plans to hold off on fresh military strikes against Iran for now, following appeals from regional countries, including Qatar’s prime minister during talks at the White House.

Oil prices edged lower on Tuesday, extending the previous day’s losses.

Richmond Fed President Tom Barkin said on Monday that the US central bank should proceed carefully as it shapes a response to inflation, which he called its biggest risk.

He added that he has no base case yet on what the Fed should do at its December meeting, CNBC reported.

According to the CME FedWatch tool, traders see an 84% probability of a Fed rate hike in December. Higher interest rates raise the opportunity cost of holding non-yielding bullion, which dents its appeal.

Investors now await the consumer price index (CPI) report due later in the day, followed by producer price index (PPI) data on Friday.

Among other metals, spot silver slipped 0.6% to $53.04 per ounce, platinum eased 0.3% to $1,571.70, and palladium lost 0.4% to $1,037.50.

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