U.S. inflation data exceeds expectations, gold prices come under pressure and decline

⑴ U.S. inflation data exceeded market expectations, and combined with hawkish statements from Federal Reserve officials, the U.S. Dollar Index is approaching a one-month high. The market has strengthened expectations for a December rate hike, which has put pressure on precious metal prices. ⑵ Spot gold edged down 0.2% to $3,968 per ounce; December gold futures fell 0.4% to $3,975 per ounce. ⑶ Other precious metals also weakened, with spot silver down 0.6% and palladium slipping 0.3%. ⑷ The future trend of gold prices will continue to be dominated by the Federal Reserve's policy path and the strength of the U.S. dollar, and the market will keep tracking a series of U.S. economic indicators.