Gold Macro Environment
Last updated: 11/10/2026, 9:32:38 AM
Top Score Drivers
Score-point contribution, scaled by real-time conviction
Macro Summary
Gold is currently caught between a rock and a hard place, pressured by high real yields and hawkish Fed expectations while supported by structural central bank buying and geopolitical uncertainty. The market is rangebound as investors weigh the opportunity cost of holding gold against its role as a hedge. Watch for upcoming inflation data to see if the Fed's tightening path remains as aggressive as currently priced.
Key Events
- •Nov 10 — US CPI/PPI releases: expected to show moderation, but any upside surprise would be bearish for gold.
- •Nov 17 — Fed meeting expectations: market is pricing in an 80% chance of a 25bps hike.
Factor Attribution — Today's Movement
Estimated relative weight of each driver in today's gold price move
This measures how much each market moved today relative to its usual daily range — not its effect on the bias score. A factor can drive the score (see Top Score Drivers) while barely moving today. Real yield shows "no daily data" when today's change isn't published yet.
What's Driving Gold Right Now
5 bullish · 5 bearish of 14 indicators
Structural & Geopolitical Drivers
Long-term forces that move gold over weeks, months, or years
24h Macro Score Forecast
Extends the score's recent momentum forward, fading over time
Gold Price vs Macro Score & Drivers
Gold price vs macro score. Tap the chips below to add DXY or the 10Y yield; tap the chart for exact values.
Live Market Indicators
US Dollar strength and 10-year yields — the two key macro drivers of gold
US Dollar Index (DXY)
Dollar strength — gold moves inversely
US 10-Year Treasury Yield (nominal)
Headline yield, before inflation. The real (TIPS) yield is shown on the Real Yield card.