Gold Drops Below $4,000 Again. Will Friday’s Inflation Data Deepen the Slide?

Gold fell below $4,000 for the third time since late October, with the price hitting $3,963.44 on Thursday. Higher inflation in October has led to increased expectations for a December Fed hike, already priced into the market. The PPI report on Friday may influence whether bets on a half-point hike grow, potentially dragging gold lower. Two-year Treasury yields rose 25 basis points, and the US dollar hit a 19-month high, both factors affecting gold's value.