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Gold holds above $4,100 after Monday's rebound as oil stays softer, traders wait for US inflation figures and the kiwi keeps its bounce after New Zealand's tight vote
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Forex news today: gold held above $4,100 in early London trade on Tuesday, easing from Monday's close near $4,141, as traders waited for the US inflation report and oil stayed softer. The dollar gave back a little more of Friday's jobs gains, and the kiwi kept most of the bounce that followed New Zealand's tight election.
Below: where gold, oil and the major currencies stood on our feed this morning, what changed overnight on Iran and on the New Zealand vote, and the dates still to come this week in UK time with ET in brackets. Levels for gold and the majors appear in the free Forexuro Telegram channel every trading day.
Free on Telegram. Gold and dollar levels for CPI day, with entry, stop and three targets.
Gold eases after Monday's rebound
On our price feed spot gold was near $4,117 an ounce at about 07:40 UK time on Tuesday, down about 0.6% from the Monday close near $4,141. That still left the metal above $4,100 after Monday's climb. FXStreet said gold met fresh supply after Monday's run toward the $4,150 area, and that it held above $4,100 heading into the European session.
The Monday rise came as oil fell. Reuters had reported that spot gold climbed 1.4% to $4,123.46 an ounce by 04:28 GMT on Monday, after President Trump said he was highly unlikely to order further attacks on Iran while talks continued. On Tuesday FXStreet reported that Trump said there was positive momentum toward ending the war on Iran and that a resumption of strikes was quite unlikely. The same report said Mohsen Rezaei, secretary of Iran's Supreme National Security Council, dismissed reports of active negotiations as untrue and repeated that Washington would have to accept Tehran's conditions. Cheaper oil can ease some of the pressure on inflation and on the case for keeping interest rates high, which lowers the cost of holding a metal that pays no interest.
Our hourly feed shows gold reached about $4,140.66 late on Monday, then eased through the Asia session to about $4,111 around 04:00 UK time before recovering to about $4,125 by 07:00 UK time. Our guide to what moves the gold price explains how oil, the dollar and rate expectations pull on it, and every closed gold trade is on the gold signal results page.
The dollar pauses before US inflation data
The dollar found some support in Asia and then eased a little as London opened, with traders waiting for the US consumer price figures. Reuters reported that a fall in oil and a rebound in stocks had knocked the dollar lower on Monday, and that the euro had jumped 0.7% overnight to $1.1220. On our feed the dollar index was near 101.56 at about 07:40 UK time on Tuesday, a little below the Monday close near 101.66.
| Market | Tuesday 10 November, 07:40 UK time (Forexuro feed) | Monday close (Forexuro feed) |
|---|---|---|
| EUR/USD | 1.1238 | 1.1224 |
| GBP/USD | 1.3457 | 1.3443 |
| USD/JPY | 157.94 | 157.92 |
| AUD/USD | 0.6924 | 0.6926 |
| NZD/USD | 0.5640 | 0.5631 |
| Spot gold | $4,117 | $4,141 |
| US crude (WTI) | $84.98 | $86.54 |
Reuters reported on Tuesday that markets were pricing an 85% chance of a Federal Reserve rate rise on 9 December, after Friday's payrolls report showed a 165,000 increase in October, well above the 65,000 economists expected, and an unemployment rate of 4.1%. On Monday, CME Group's FedWatch tool had put that chance at about 79%. The pound's levels are on GBP/USD today, and gold's session levels on gold today.
The kiwi after a tight election
The New Zealand dollar was near 0.5640 on our feed in early London trade, after a bounce of about 1.5% on Monday from a Friday close near 0.5545. Reuters reported on Tuesday that the kiwi was steady near $0.5630 in Asia after that rally, and that Prime Minister Christopher Luxon said he had met the leader of the Opportunity Party, Qiulae Wong, on Monday evening.
Preliminary figures from the New Zealand Electoral Commission leave Luxon's three party coalition with a majority of two seats in a 131 seat parliament, Reuters said. Special votes, about one seventh of the total, are still to be counted, and the official result is due on 27 November. Reuters noted that those remaining votes have often leaned left, which could erase the thin margin and leave the government seeking more support to pass laws. Our NZD/USD signals page shows how the free channel covers the pair, and the latest headlines are on the news page through the day. Join the free Forexuro Telegram channel to get the levels as they are posted.
Forex news today: dates for the rest of the week
| Release | UK time | ET |
|---|---|---|
| US CPI, October, Tuesday 10 November | 13:30 | 8:30am |
| UK GDP monthly estimate, September, Thursday 12 November | 07:00 | 2:00am |
| US PPI, October, Friday 13 November | 13:30 | 8:30am |
The UK and the US are both on standard time, so the gap is five hours on every date in the table. Today's inflation report is the next test of the rate rise bets that lifted the dollar on Friday. Economists polled by Reuters expected the annual headline rate at 3.9% and the core rate at 2.8%. Our guide to CPI and PPI data explains what each measure shows, times for US releases are also on Forex signals for the USA, and the full week is on the economic calendar.
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Official sources
Official pages for the decisions, data and schedules behind this report.
- US Bureau of Labor Statistics, Consumer Price Index release schedule
- US Bureau of Labor Statistics, Schedule of releases for 2026, including the PPI on 13 November
- Office for National Statistics, GDP monthly estimate, UK: September 2026, release page
- Federal Reserve, FOMC meeting calendar
- New Zealand Electoral Commission, Preliminary count, 2026 general election
Frequently asked questions
Where was gold trading on Tuesday 10 November 2026?
Near $4,117 an ounce in early London trade on our feed, about 0.6% below the Monday close near $4,141, and still above $4,100.
What are the odds of a Fed hike in December 2026?
Reuters reported on Tuesday that markets were pricing an 85% chance of a rate rise on 9 December, after Friday's jobs report. On Monday, CME FedWatch had put the chance at about 79%.
What time is US CPI on 10 November 2026?
13:30 UK time, which is 8:30am ET.
What is the state of New Zealand's election count?
Reuters said the preliminary count left the governing coalition with a majority of two seats. Special votes remain, and the official result is due on 27 November.
Sources
- Reuters via Business Recorder: Dollar sellers hit pause for US inflation data (10 November 2026)
- FXStreet: Gold holds above $4,100 as traders look to US CPI (10 November 2026)
- Reuters via Internazionale: New Zealand PM Luxon meets Opportunity's Wong (10 November 2026)
- Reuters via Investing.com: US dollar holds onto payrolls gains, NZ dollar rises after election (9 November 2026)
- Reuters via Business Recorder: Gold rises over 1% as softer oil prices ease inflation worries (9 November 2026)
- Data for the chart: Forexuro's hourly price feed, 2 to 10 November 2026.
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