Gold falls over 1% and silver slides near $52 as Fed Governor Waller signals more rate hikes; US CPI due at 13:30 UTC.

The evening market snapshot on 10 Nov 2026 shows risk assets under pressure as investors await the US inflation report. Hawkish comments from Federal Reserve Governor Christopher Waller have pushed gold lower and silver deeper into the red, while crypto markets, led by Bitcoin, are slipping despite a recent rebound in US equities.

Currencies, Fed commentary and the dollar outlook

Fed Governor Waller reiterated that higher interest rates may be needed to curb inflation, reinforcing expectations of a December rate hike. ING analyst Chris Turner echoed the view, noting that strong US growth and inflation above 3 % should keep the US dollar supported into early 2027. The dollar’s near‑term strength is therefore anchored to the Fed’s tightening bias.

In the forex arena, the dollar’s resilience is contrasted by a softer outlook later in the year as headline inflation trends back toward the Fed’s target. Traders are pricing in a possible rate increase in December, which adds upward pressure on USD‑based pairs and weighs on commodities priced in dollars.

Gold and silver reaction to hawkish signals

Gold (XAU/USD) gave back more than 1 % of its recent gains, retreating as Waller’s remarks heightened concerns over further monetary tightening. The metal’s price fell sharply after climbing on softer inflation expectations earlier in the week.

Silver (XAG/USD) experienced a steeper decline, slipping over 2 % to near $52.20 per ounce. The drop reflects the same risk‑off sentiment that hit gold, amplified by the metal’s sensitivity to real‑yield movements. With the Fed likely to raise rates, real yields rise and precious metals lose appeal.

Read also: Gold falls over 1% as hawkish Fed remarks weigh ahead of US CPI

Cryptocurrency and equity market links

Bitcoin lagged the modest rebound in US equities, sliding as investors shifted focus to the upcoming CPI numbers. Spot Bitcoin ETFs saw outflows of $201 million, underscoring the cautious tone in the crypto space.

The broader equity market is also under pressure, with Nvidia edging higher amid speculation about CEO Jensen Huang’s personal controversy, while Anthropic’s upcoming IPO pricing range of $70‑$78 adds a fresh AI narrative to Nasdaq activity.

Key calendar events for the next 24 hours

• 13:30 UTC | USD Core CPI m/m | high impact – Core inflation data will shape expectations for Fed policy and influence the dollar, gold and risk assets.
• 13:30 UTC | USD CPI m/m | high impact – The headline CPI release is the primary gauge for inflation, driving market direction across currencies, commodities and equities.
• 09:45 UTC | EUR ECB President Lagarde Speaks | medium impact – Comments from the ECB chief will affect euro‑dollar dynamics and European equity sentiment.

Frequently asked questions

Official data sources

• U.S. Bureau of Labor Statistics
• Federal Reserve (Fed)
• World Gold Council – Goldhub

Related news

• Gold falls over 1% as hawkish Fed remarks weigh ahead of US CPI
• Bitcoin price eyes $74K as Fed rate‑hike bets hit 96% after Waller speech
• Fed rhetoric and CPI expectations guide yields – Rabobank analysis
• NZD/USD eyes break above 0.5640‑0.5645 ahead of US CPI

More from ITF

• ITF trading signals for gold and forex
• Copy verified traders with ITF Copy Trading
• This week’s economic calendar

This article is compiled from international market news for information only. It is not investment advice.