Gold traded at $4,060.19 an ounce early on Wednesday 11 November 2026, steadying after an overnight slide as a stronger US dollar and rising bond yields weighed on the precious metal.

The live spot price stood at $4,060.19 per troy ounce as of 1:59am Eastern Time, up 0.23 per cent from the last LBMA PM fix, according to GoldPrice.com. That put gold at $130.54 per gram and $130,538 per kilo.

In the UK, the spot price was £3,042.23 an ounce, according to The Gold Price website, which updated its sterling quote at 06:31 UTC on Wednesday. At that level, 24-carat gold in Britain was worth about £97.81 per gram.

Gold steadies after overnight slide

The steadier tone followed a difficult session overnight. Reuters reported that gold fell 2.6 per cent overnight before edging up 0.2 per cent on Wednesday to $4,030.56 an ounce during Asian trading, as traders repriced the outlook for US interest rates.

The selling came after US inflation data for October came in hotter than expected. Core inflation, which strips out food and energy, rose 0.3 per cent on the month, above the 0.2 per cent forecast by economists. The reading strengthened the dollar and pushed Treasury yields higher, both of which tend to weigh on gold because the metal pays no interest.

The dollar index, which measures the greenback against a basket of major currencies, gained 0.5 per cent overnight and edged up a further 0.1 per cent on Wednesday to 102.29, Reuters reported.

Rate expectations shift against gold

Two-year US Treasury yields surged 18 basis points overnight and stood at 4.7482 per cent in Asian trading, while the 10-year yield rose to 4.9958 per cent, close to the 5 per cent mark. Higher yields raise the cost of holding gold and have been a persistent headwind for the metal in recent weeks.

Analysts at TD Securities cautioned that the pressure may not be over. "With yields higher across the curve, elevated carry costs, a firmer greenback, and possible liquidity challenges, it is likely that the yellow metal will trade back down to technical support near $3,900 an ounce," the bank's analysts said, according to Reuters.

Gold has still held above the $4,000 level that it first reached in sustained trading earlier in the autumn, and the metal remains far above where it traded a year ago. But the latest slide is a reminder of how quickly sentiment can turn when rate expectations move.

What to watch next

Traders will now watch whether the dollar keeps climbing and whether Federal Reserve officials harden their language on rates. Fed Governor Christopher Waller had said before the inflation data that a core reading of 0.3 per cent would prompt him to consider a half-point rate rise at the Fed's December meeting, while Dallas Fed President Lorie Logan said two more rate rises were needed, possibly rapidly.

Gold prices in India also rose on Wednesday, according to FXStreet, with the metal at 12,198.48 rupees per gram, up from 12,158.77 rupees on Tuesday. Indian prices are calculated from international spot prices converted into rupees.

Prices quoted here are spot market levels recorded early on Wednesday 11 November 2026 and will move during the trading day. Retail prices charged by dealers and jewellers can differ because of premiums, making charges and taxes.