Gold slides to two-month low as robust dollar, yields add pressure
FOMC minutes lifted rate-hike expectations, sending GLD down 2% and GDX down 3% as the 10-year Treasury yield hit its highest since 2002.
- Spot gold closed at $4,109.90 an ounce on Wednesday, marking a 1.28% decline and the lowest level since August 5, 2026. The slide reflects mounting pressure on the safe-haven asset.
- Minutes from the Federal Open Market Committee meeting held September 16, 2026, signaled potential further rate hikes, pressuring bullion as the 10-year Treasury yield touched about 5.36%. The U.S. dollar index held above 102, compounding headwinds.
- Mining stocks fell harder than the metal itself, with Barrick Mining dropping 3.78% and Newmont losing 2.45%. Newmont's margins face risk as spot gold trades below its $4,500 guidance assumption.
- Goldman Sachs cut its year-end gold target to $4,900 amid Federal Reserve hike risks, while China's central bank added gold for the 23rd consecutive month in September. The divergence reflects mixed market sentiment.
- Gold remains down about 26% from its record high of $5,589.38 set on January 28, 2026, despite the metal's 27% gain in 2025. Current headwinds test investor conviction in the long-term safe-haven thesis.
13 Articles
13 Articles
Gold Just Fell to a Two-Month Low as the Fed Signals Another Hike
The Fed just signaled it may not be done raising rates, and gold is paying the price. Here is what the selloff means for miners whose profit forecasts still depend on prices the market has already abandoned.
The prices of future gold contracts ended the day in decline, pressed by the appreciation of the dollar and by the advance of Treasury revenues, with the rate of long interest in the United States renewing maximums in 24 years in the face of high inflationary risks. In Comex, the metal division of the New York Mercantile Exchange (Nymex), the gold with delivery scheduled for October closed in fall of 1.09%, to US$ 4,113.80 per ounce-troy. The pr…
Gold prices drop over 2%, slide to 2-month low as Treasury yields, US dollar climb
Gold prices fell 2.3% to $4,066 per ounce, marking a two-month low. Rising Treasury yields and a strong US dollar contributed to this decline. Investors await the FOMC minutes for insights on Fed policy amid inflation concerns and potential rate hikes.
The Economic Times
Gold slides to two-month low as robust dollar, yields add pressure
Gold prices have fallen to a two-month low due to a strong US dollar and rising Treasury yields. Spot gold dropped 1.6% to $4,096.13 per ounce, while silver also faced significant declines. The Federal Reserve's policy decisions are anticipated to influence future interest rate hikes, affecting gold's appeal. China's central bank continued its long-term gold purchasing trend, contributing to market dynamics.
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