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Gold slips to fresh post-August 5 lows on Fed hike bets
Traders are pricing roughly a 68% chance of a Fed rate hike in October, while oil-driven inflation fears keep US bond yields near multi-year highs.
Gold extended intraday declines, falling to a fresh low since August 5, around the $4,169 to $4,168 area heading into the European session, according to FXStreet.
The outlet links the move to a bearish setup, including a hawkish Federal Reserve backdrop earlier this month. Oil-driven inflation fears are seen as keeping US bond yields pinned near multi-year highs, which can pressure non-yielding bullion.
FXStreet notes the Fed raised its benchmark rate in mid-September 2026, its first increase in three years, and signaled another hike is likely before the end of the year. CME Group's FedWatch Tool is cited as showing about a 68% chance of a further rate increase in October.
The report also points to geopolitical uncertainty supporting the US dollar, which adds extra pressure on gold. It further references developments tied to the Middle East crisis, saying the US president rejected an Iranian proposal.
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