On Friday, November 11, 2022, the gold price fell slightly, heading towards a weekly gain. The data showed signs of slowing inflation, which strengthened hopes that the US Federal Reserve would reduce its aggressive rate hikes.

American gold futures rose 0.1% to $1,755.20. On the one hand, cash gold was down 0.1% to $1,751.87 per ounce at 00:48 GMT and on the other hand, it's up 4.2% over the week. Considered a hedge against inflation, but rising interest rates are increasing the opportunity cost of holding non-productive bullion.

Indeed, in order to reach a record more than two months after inflation data in the United States, bullion prices jumped nearly 3% on Thursday. Compared to American consumer prices, there was a less than expected increase in October. This pushed the annual increase below 8% for the first time in eight months. A lower dollar makes gold more attractive to foreign buyers. As a result, the Dollar Index fell 2.4% for the week.

In addition, cash fell 0.5% to $21.56, while platinum fell 0.4% to $1,028.51 and palladium fell 0.2% to $1,960.49.