Gold drops 1% after hawkish Fed rate hike, eyes key technical test
Gold slid over 1% to around $4,240 after the Federal Reserve raised rates to 3.75–4.00% and hinted at more tightening. The $4,320 level is now a key pivot point.
Gold Market
Gold slid over 1% to around $4,240 after the Federal Reserve raised rates to 3.75–4.00% and hinted at more tightening. The $4,320 level is now a key pivot point.
Gold gave up Rs 1,900 per 10 grams on MCX over three sessions while silver gained Rs 1,400 per kg. Inflation expectations and rate-hike worries are keeping the metals volatile.
Gold and silver saw increased trading volume even without fresh economic data on Yom Kippur. Analyst Ira Epstein points to geopolitical talks and yield curve shifts as key influences.
Gold held near $4,350 an ounce as lower oil prices eased inflation concerns and traders weighed the Federal Reserve's rate path after its first hike since 2023.
Gold prices rose on September 16 supported by a weaker US dollar. Traders awaited the Federal Reserve's policy decision, with markets pricing a 90% chance of a quarter-point rate hike.
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 approached a breakout last week but lost momentum, settling back above $4,200. Sticky inflation, rising bond yields, and a Fed rate hike expectation counterbalanced geopolitical oil supply risks.
Gold edged lower on Monday as rising oil prices fuelled inflation worries. Traders now price in an 86% probability of a US rate hike, a headwind for the non-yielding metal.