Gold: Prices continue to hold north of $3000 – TDS
Source Fxstreet
Macro funds played a role in last week's melt-up in Gold prices, TDS' Senior Commodity Strategist Daniel Ghali notes.
Recent liquidations are likely related to constrained risk-budgets
"Our advanced positioning analytics corroborates our view that macro funds played a role in last week's melt-up in Gold prices, suggesting that recent liquidations likely related to constrained risk-budgets, as opposed to a directional view on Gold."
"Considering this cohort's net position still remains at levels broadly consistent with early-2024, and that prices continue to hold north of $3000/oz, we think their repleted warchest will chase the run higher in prices, fueling more FOMO into the yellow metal. It's still 'heads I win, tails you lose', but it's the other side of the coin that is now screaming FOMO."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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China's factories are pricing in 5.7%. Its shoppers are pricing in 0.7%.China's October PPI rose 5.7% year on year, the fastest since June 2022, while CPI slowed to 0.7% and core CPI to 0.8%. Input prices rose faster than factory-gate prices, squeezing mid-stream margins by roughly five percentage points. The Hang Seng fell 0.13% on a day the S&P 500 rose 2.35%, the only major market to sit out the risk-on session.
China's October PPI rose 5.7% year on year, the fastest since June 2022, while CPI slowed to 0.7% and core CPI to 0.8%. Input prices rose faster than factory-gate prices, squeezing mid-stream margins by roughly five percentage points. The Hang Seng fell 0.13% on a day the S&P 500 rose 2.35%, the only major market to sit out the risk-on session.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.
As of the Asian session on Wednesday (November 11), gold prices (XAUUSD) rebounded slightly after a sharp decline in the previous session, last trading near $4,040, up about 0.3% on the d
Core CPI stuck at 0.3% for a third straight month — and BLS couldn't publish the number that would explain itOctober headline CPI rose 0.4% m/m against a 0.3% consensus, and core rose 0.3% for a third consecutive month against 0.2% expected. BLS published no year-on-year figures because October 2025 collection was lost to the government shutdown. Energy cooled to 0.7% from 5.2% — shelter, food and transport services did the rest. The 2-year yield jumped 18 to 21 basis points, the 10-year added 12, and the dollar closed at 102.25.
October headline CPI rose 0.4% m/m against a 0.3% consensus, and core rose 0.3% for a third consecutive month against 0.2% expected. BLS published no year-on-year figures because October 2025 collection was lost to the government shutdown. Energy cooled to 0.7% from 5.2% — shelter, food and transport services did the rest. The 2-year yield jumped 18 to 21 basis points, the 10-year added 12, and the dollar closed at 102.25.
Bitcoin lost its 200-day average — but the exit started three sessions before the CPIBitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
Bitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
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