Silver Leads a Rebound After the CPI Sell-Off on a Thin Veterans Day Session — Precious Metals Daily Update, November 11, 2026

Precious metals tried to rebound on Wednesday, November 11, 2026, after Tuesday’s sharp sell-off on hotter-than-expected US inflation, with silver leading the recovery on a thin Veterans Day session when the US cash bond market was closed and no US economic data were scheduled. Gold held around US$4,017.14 / C$5,724.50 per ounce, down 0.38 percent in US dollars and up 0.05 percent in Canadian dollars. Silver held around US$52.28 / C$74.50 per ounce, up 1.44 percent in US dollars and up 1.89 percent in Canadian dollars, while platinum held around US$1,553.06 / C$2,213.01 per ounce, up 0.69 percent in US dollars and up 1.16 percent in Canadian dollars. In trading so far gold has ranged between US$4,010.89 and US$4,067.04 per ounce, silver has ranged between US$51.44 and US$53.19 per ounce, and platinum has ranged between US$1,542.46 and US$1,579.09 per ounce. Gold rose in Asian trading to a peak near US$4,067.10 per ounce and then gave back much of that gain as the US dollar index climbed 0.44 percent to 102.69. Kitco reported spot gold near US$4,042.50 per ounce in early US trading, up 0.27 percent, with spot silver near US$52.69 per ounce, up 2.47 percent, on bargain hunting and short covering after Tuesday’s losses, and another snapshot put gold at US$4,038.78 per ounce at 8:30 AM ET, up 0.16 percent from Tuesday’s close, with silver up 2.39 percent to US$52.76 per ounce. Those external levels sit above Gold Stock Corp’s live feed for gold, but they agree on the shape of the day: silver and platinum are recovering clearly, while gold’s rebound is fragile while the dollar stays firm, the 10-year Treasury yield last traded near 5.00 percent on Tuesday, and markets debate whether the Federal Reserve will raise rates by 25 or 50 basis points at its December 8 to 9 meeting after October CPI rose 0.4 percent month over month against a 0.3 percent consensus, with core CPI up 0.3 percent against a 0.2 percent consensus. For investors: Wednesday’s move is a partial repair job, not a reversal of Tuesday’s signal. Futures pricing reported this morning put roughly an 88 percent chance on a 25 basis point December hike and about a 12 percent chance on a larger 50 basis point move, so the question is no longer whether the Fed tightens again, but by how much. With cash Treasuries closed for Veterans Day there is no fresh yield signal today, and thinner liquidity can exaggerate moves in either direction. Gold support sits near the session low around US$4,011 per ounce and then near US$4,000, while resistance sits first near the overnight high around US$4,067 per ounce and then near US$4,140 to US$4,148 per ounce. Thursday’s jobless claims and especially Friday’s producer price report will decide whether this rebound holds. Staggered buying on pullbacks toward support, rather than chasing silver’s faster bounce, remains the more disciplined approach for Gold Stock Corp customers. For jewelers: Canadian replacement costs rose for silver and platinum on Wednesday and were essentially flat for gold, with gold near C$5,724.50 per ounce, silver near C$74.50 per ounce and platinum near C$2,213.01 per ounce. Silver’s 1.89 percent Canadian dollar rise is the move that matters most for workshop costing today, because quotes printed after Tuesday’s sell-off are already low relative to live spot. The higher levels still sit well below Monday’s close for all three metals, so jewelers locking metal for confirmed holiday orders are still buying below last week’s costs, but with Friday’s US PPI still ahead, keeping trade and scrap buying aligned to live spot helps protect margins if the rebound fades or extends quickly. Coming up — events that will move metals this week: Wednesday, November 11 — Veterans Day in the United States, when the cash bond market is closed while stock and futures markets remain open and no US economic data are scheduled: thinner liquidity in rates can exaggerate moves in gold, silver and platinum as traders continue to reprice December hike odds after the hot CPI print, and there is no fresh Treasury yield signal to settle the direction. Thursday, November 12, 8:30 AM ET — US weekly jobless claims (prior reading 189,000, consensus near 195,000, with continuing claims prior at 1,718,000) and October existing home sales at 10:00 AM ET (consensus near 3.87 million annualized), with Cleveland Fed President Beth Hammack, Fed Governor Michael Barr, Chicago Fed President Austan Goolsbee, San Francisco Fed President Mary Daly and New York Fed President John Williams among the officials speaking during the day, and a 30-year Treasury auction at 1:00 PM ET: claims are the first labour check after last week’s strong payrolls report and Tuesday’s hot CPI, so another low reading would keep the firm labour and inflation story intact, while a jump would soften it. Friday, November 13, 8:30 AM ET — US October producer price index (PPI) (consensus near 0.4 percent month over month against a prior September reading of 1.3 percent, with core consensus near 0.3 percent against 0.7 percent prior), with Boston Fed President Susan Collins, Fed Vice Chair for Supervision Michelle Bowman and Fed Vice Chair Philip Jefferson among the officials speaking later in the day: PPI shows whether pipeline price pressure is building behind CPI, so a hot print after a hot CPI would confirm the inflation story weighing on metals, while a soft print would ease it. Live prices: https://www.goldstocklive.com