The US Dollar Index continued to rise strongly, reaching a one-year high, which reduced gold's investment appeal for non-dollar buyers.

Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals, stated, 'The latest inflation data will not have a significant direct impact on gold.'

'With the Trump administration and the new Congress positioning themselves and genuinely attempting to implement the policies they campaigned on and promoted after being elected, I think the Fed will hold its cards close to its chest.'

Gold prices came under pressure on Thursday due to a strong US dollar, falling to a two-month low.

Nov 15 2024