Daily digest market movers: Gold remains pressured by a firm US Dollar

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  • Gold prices fell as US real yields, which inversely correlate against Bullion, soar over ten basis points to 2.089%. The DXY registers gains of 0.45%, up to 105.99.
  • The US Consumer Price Index (CPI), set for release on November 13, is expected to rise slightly from 2.4% to 2.6% YoY, with monthly figures expected to hold steady at 0.2%.
  • Core CPI is forecasted to remain unchanged at 3.3% annually and 0.3% monthly.
  • Data from the Chicago Board of Trade, via the December fed funds rate futures contract, shows investors estimate 24 bps of Fed easing by the end of 2024.
  • Fed funds rate futures for 2025 imply just 47 bps in reductions, compared with about 67 bps a few weeks ago.

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