Gold slips as oil gains and Treasury yields pressure prices
Gold declined on Tuesday as rising crude oil prices and benchmark Treasury yields near 5% reinforced expectations of elevated interest rates ahead of the Fed's decision.
Gold Market
Gold declined on Tuesday as rising crude oil prices and benchmark Treasury yields near 5% reinforced expectations of elevated interest rates ahead of the Fed's decision.
Spot gold dropped 0.9% to $4,308.24 as traders priced in an 89% chance of a US rate hike this week, following hot inflation data and rising oil prices.
Gold and silver declined on September 14, 2026, as oil prices jumped 4% on Middle East supply concerns and investors weighed the prospect of a US Federal Reserve rate hike.
Gold fell 0.85% on Monday, hitting a one-month low of $4,253, as the 10-year US Treasury yield climbed above 5% for the first time since 2023 and the US Dollar strengthened. Markets await the Federal Reserve's policy decision on Wednesday.
The Federal Reserve faces a tough call at its September meeting, but with US debt at $40 trillion and a fragile economy, the outcome may matter little for gold investors in the longer run.
Gold trades in a narrow range just above $4,300 as a resilient US dollar and expectations of hawkish decisions from the Fed, BoE, and BoJ this week cap gains.
Gold is subdued around $4,330 at the start of a key week for the Federal Reserve. Rate hike expectations and rising bond yields are weighing on the precious metal.
Gold stabilised on Friday after a sharp 2% drop, with traders eyeing US inflation data for clues on the Fed's next move. Key technical support at $4319 is being tested.
Gold declined 0.9% to $4,360 after US producer prices and surging oil prices fuelled expectations of a hawkish Fed, sending yields and the dollar higher.