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Gold slips below $4,200 to lowest level since August 5
Gold is pressured by higher Fed hike expectations, with traders pricing about a 68% chance of an October rate increase, according to CME Group's FedWatch Tool.
Gold fell below the $4,200 level, reaching its lowest point since August 5 during the Asian session, according to FXStreet. The outlet attributed the move to heavy selling pressure and a bearish fundamental backdrop.
FXStreet linked the decline to a hawkish Federal Reserve outlook and persistent concerns that oil-driven inflation could keep US yields elevated. The Fed raised its benchmark interest rate in mid-September 2026 for its first hike in three years, and signaled that another increase is possible before the end of the year.
FXStreet also cited FedWatch pricing that shows traders assigning roughly a 68% chance of a rate hike in October, while noting that geopolitical uncertainty is supporting the US dollar. The stronger dollar adds additional headwinds for non-yielding bullion.
The article further pointed to ongoing Middle East tensions, saying US President Donald Trump rejected an Iranian pr
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