Gold buckles as 5% yields and Fed hawks take control

Gold sank by over 1.5% during the North American session on Wednesday as investors grew confident that the Federal Reserve (Fed) would raise rates at the October meeting. That confidence stems from hawkish remarks made by several officials.

Gold impact rationale

Rising rate-hike or hawkish expectations increase gold's opportunity cost.

• Source: FXStreet news
• 2026-09-23
• rates

Topics: gold news, gold price impact, rates