Precious metals declined on the evening of March 11 after the U.S. released its February Consumer Price Index (CPI) data. Spot gold briefly fell below $5,170 per ounce, while spot silver dropped sharply by 4%. As of 21:04, losses had partially recovered, with spot gold down 0.21% at $5,179.4 per ounce and spot silver down 3.4% at $85.3 per ounce.

The yield on the 30-year U.S. Treasury note rose to 4.83%, its highest level since February 10. The U.S. dollar index climbed, nearing the 100 mark. Futures for the three major U.S. stock indices also declined, with Dow Jones futures down 0.45%, Nasdaq futures down 0.19%, and S&P 500 futures down 0.27%.

Data released by the U.S. Labor Department on March 11 showed that the U.S. CPI increased 2.4% year-over-year in February. Excluding volatile food and energy prices, the core CPI rose 2.5% compared to the same period last year. Analysts noted that this data reflects U.S. inflation conditions prior to the recent military conflict in the Middle East. Given the recent surge in international oil prices and the ongoing closure of the Strait of Hormuz, risks of a rebound in U.S. inflationary pressures cannot be ruled out. Despite recent non-farm payroll data falling significantly below expectations, markets still anticipate that the Federal Reserve may not implement another interest rate cut until July of this year.