Firm US inflation keeps gold under pressure with rising yields weighing on sentiment

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Gold slips on strong US inflation and hawkish Fed pressuring non-yielding assets

Highlights

Gold posted over 4% weekly losses, falling to its lowest level in more than a year after strong US inflation data and more hawkish Federal Reserve commentary.
Increased Treasury yields and a firmer dollar reduced demand for gold by diminishing its appeal as a non-yielding asset.
Technical analysis indicates persistent bearish momentum below $3,915, with no reversal signals unless prices regain sustained footing above $3,950.

US inflation and Fed stance pressure gold via yields and USD

According to FXStreet, on November 13, 2026, gold attempted to stabilize after falling to its lowest level in over a year, with weekly losses surpassing 4%.

The decline was linked to stronger-than-expected US inflation data and more hawkish commentary from the Federal Reserve, as reported by FXStreet. Rising Treasury yields and a stronger dollar served to reduce demand for gold as a non-yielding asset.

This environment left gold exposed to shifts in US monetary policy and the interest rate outlook, as highlighted by FXStreet.

Bearish setup on 4H chart with key resistance levels overhead

On the 4-hour chart, XAU remains below its short-term and intermediate simple moving averages. Both the 20-period and 50-period SMAs are now overhead, suggesting ongoing bearish momentum.

The MACD and ADX both point toward a sell bias, with the MACD in strong negative territory and a high ADX value reflecting trend strength. The key resistance to watch is the 4-hour Kijun at $3,950, with no major indicator signaling a reversal at this stage.

US policy signals and inflation to define next gold move

Gold's outlook is sensitive to further developments in US inflation and Federal Reserve guidance. Staying below the $3,915 level indicates ongoing pressure, while a sustained move back above the $3,950 resistance could suggest stabilization. Continued attention to Treasury yields and the US dollar remains warranted for directional cues.

Anton Kharitonov, expert at Traders Union, sees persistent US inflation and hawkish Federal Reserve signals as key drivers behind gold’s ongoing weakness. Technical indicators remain bearish, with price action stuck below key moving averages and no sign of reversal on the 4-hour chart. Weakness in gold will likely persist as long as Treasury yields and the US dollar stay firm. "Unless gold reclaims the $3,950 resistance, I remain cautious and see no reason to anticipate a bullish turnaround."

Earlier, analysts noted that gold attracted renewed institutional interest following a significant decline driven by expectations of tighter Federal Reserve policy and rising Treasury yields. The current analysis reinforces these themes, emphasizing that upcoming US inflation data and central bank guidance remain the key factors likely to determine the next move for gold.

Source of Data: XAU Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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