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BusinessQuiet 3d · day 9

Gold slides as Fed rate hike bets boost dollar and Treasury yields

Stronger US currency and expectations of prolonged monetary tightening weigh on bullion prices.

newest coverage 2d agosummary written 2d ago18 pieces NewswiresGoogle News

What to know

  • The Federal Reserve's September 17 rate hike and hawkish forward guidance from Chair Warsh and other officials have triggered expectations of further tightening, with markets pricing in a 55% chance of another hike at the October meeting.
  • A stronger US dollar—driven by higher interest rate expectations—has made gold more expensive for foreign buyers, reducing demand for the commodity.
  • Higher Treasury yields have increased the opportunity cost of holding gold, which generates no interest income, making interest-bearing assets more competitive.
  • Gold prices have declined from $4,346.62/oz on September 17 to $4,320.19/oz by September 22, with further weakness as Treasury yields reach multiyear highs through September 23.

“For now the momentum is on the more positive side though and with inflation fears subsiding again, that meant investors dialled back the likelihood of rapid rate hikes, even if plenty are still priced in for the month ahead.”

Market analyst, Market participant · Yahoo Finance ↗

Federal Reserve Central bankKevin WarshKevin Warsh Federal Reserve ChairAustan GoolsbeeAustan Goolsbee Chicago Federal Reserve PresidentAlberto Musalem St. Louis Federal Reserve President

Gold slides as Fed rate hike bets boost dollar and Treasury yields
Yahoo Finance

How it unfolded 6 developments, newest first · click a bar or a number to jump articles

Peak 5 pieces in 3h at Sep 23, 6 AM; 18 pieces over 10 days (18 articles) Sep 16, 9 PM — 1 piece · 1 article — Newswires 1Sep 17, 12 AM — quietSep 17, 3 AM — quietSep 17, 6 AM — quietSep 17, 9 AM — quietSep 17, 12 PM — quietSep 17, 3 PM — quietSep 17, 6 PM — quietSep 17, 9 PM — quietSep 18, 12 AM — quietSep 18, 3 AM — quietSep 18, 6 AM — quietSep 18, 9 AM — quietSep 18, 12 PM — quietSep 18, 3 PM — quietSep 18, 6 PM — quietSep 18, 9 PM — quietSep 19, 12 AM — quietSep 19, 3 AM — quietSep 19, 6 AM — quietSep 19, 9 AM — quietSep 19, 12 PM — quietSep 19, 3 PM — quietSep 19, 6 PM — quietSep 19, 9 PM — quietSep 20, 12 AM — quietSep 20, 3 AM — quietSep 20, 6 AM — quietSep 20, 9 AM — quietSep 20, 12 PM — quietSep 20, 3 PM — quietSep 20, 6 PM — quietSep 20, 9 PM — quietSep 21, 12 AM — quietSep 21, 3 AM — quietSep 21, 6 AM — 2 pieces · 2 articles — Google News 1, Newswires 1Sep 21, 9 AM — 1 piece · 1 article — Newswires 1Sep 21, 12 PM — quietSep 21, 3 PM — quietSep 21, 6 PM — quietSep 21, 9 PM — quietSep 22, 12 AM — quietSep 22, 3 AM — 3 pieces · 3 articles — Google News 2, Newswires 1Sep 22, 6 AM — quietSep 22, 9 AM — quietSep 22, 12 PM — 1 piece · 1 article — Newswires 1Sep 22, 3 PM — quietSep 22, 6 PM — quietSep 22, 9 PM — quietSep 23, 12 AM — quietSep 23, 3 AM — quietSep 23, 6 AM — 5 pieces · 5 articles — Google News 5Sep 23, 9 AM — 4 pieces · 4 articles — Google News 4Sep 23, 12 PM — quietSep 23, 3 PM — 1 piece · 1 article — Newswires 1Sep 23, 6 PM — quietSep 23, 9 PM — quietSep 24, 12 AM — quietSep 24, 3 AM — quietSep 24, 6 AM — quietSep 24, 9 AM — quietSep 24, 12 PM — quietSep 24, 3 PM — quietSep 24, 6 PM — quietSep 24, 9 PM — quietYesterday, 12 AM — quietYesterday, 3 AM — quietYesterday, 6 AM — quietYesterday, 9 AM — quietYesterday, 12 PM — quietYesterday, 3 PM — quietYesterday, 6 PM — quietYesterday, 9 PM — quietToday, 12 AM — quietToday, 3 AM — quietToday, 6 AM — quiet 1234–56
Sep 17Sep 18Sep 19Sep 20Sep 21Sep 22Sep 23Sep 24yesterdaynow · 9:45 AM ET
  1. 6

    Gold slides as rate hike expectations push Treasury yields to multiyear highs

    Treasury yields climbed to their highest levels in years as markets fully priced in expectations of further Fed rate increases. The rise in yields increased the opportunity cost of holding non-yielding gold.

    1. 1 outlet first by Seeking Alpha, 2d ago · read ↗

  2. 5

    Strong US PMI data reinforces Fed tightening bets, pressuring gold further

    Robust US manufacturing and services data gave the Federal Reserve additional room to raise rates again. The positive economic readings strengthened the case for continued monetary tightening and supported the dollar.

    1. 2 outlets Gold Slides as Fed Fears Take Over

      first by TradingView, 2d ago · also FXStreet

      1 more headline
    2. 2 outlets Gold muted as Fed policy tightening prospects weigh

      first by CNBC, 2d ago · also TradingView

      1 more headline
    1 more claim →
  3. 4

    Gold loses ground amid stronger dollar and tightening rate outlook

    Multiple market reports confirm gold weakness driven by rate hike expectations and dollar strength. Coverage notes the dual headwinds of higher Treasury yields and a stronger currency reducing foreign demand for bullion.

    1. 1 outlet first by Investing.com India, 3d ago · read ↗

    2. 1 outlet first by TradingView, 3d ago · read ↗

  4. 3

    Gold prices decline 0.5% as dollar edges higher and rate expectations persist

    Spot gold fell to $4,320.19/oz with the dollar index climbing to 100.50. St. Louis Fed President Alberto Musalem reinforced tightening expectations, telling Reuters the Fed may need to raise rates promptly to prevent inflation from remaining substantially above its 2% target.

    “A stronger dollar generally makes gold more expensive for buyers using other currencies, potentially reducing demand.”
    — Yahoo Finance, Financial analyst · source

    1. 1 outlet first by Yahoo Finance, 4d ago · read ↗

  5. 2

    Gold falls on hawkish Fed signals and dollar strength

    Chicago Fed President Austan Goolsbee said the Fed may need to raise rates further to restore price stability. December COMEX gold futures fell 1.09% as the dollar strengthened and crude oil dropped 4%, with markets pricing in 53% odds of a rate hike at the October 27-28 FOMC meeting.

    “Chicago Fed President Austan Goolsbee said that to restore price stability, the Fed may need to raise interest rates further.”
    — Austan Goolsbee, Chicago Federal Reserve President · source
    1. 2 outlets Gold falls on rising odds of Fed rate hike, stronger dollar

      first by Mining.com, 5d ago · also Yahoo Finance

      2 more headlines
  6. 3 days quiet
  7. 1

    Federal Reserve raises rates for first time in over three years

    The FOMC unanimously voted to raise the federal funds rate to 3.75%-4.00% from 3.50%-3.75%. The updated dot plot showed at least 12 FOMC members seeing one more rate hike this year, and Fed Chair Kevin Warsh signaled commitment to addressing persistent inflation.

    “The plain fact is that inflation is too high and has been for too long.”
    — Fed Chair Kevin Warsh
    1. 1 outlet Gold slips as Fed hike, hawkish outlook strengthen dollar

      first by Investing.com News, 9d ago

Also covered reported alongside — the timeline has no entry for these yet

  1. 3 outlets Gold slips as dollar strengthens, investors eye Fed rate outlook By Investing.com

    first by Investing.com India, 4d ago · also TradingView, Yahoo Finance

    2 more headlines