Gold falls as strong US PMI data gives Fed room to raise rates again

Gold (XAU/USD) trades on the back foot on Wednesday as expectations of further Federal Reserve (Fed) interest rate hikes lift the US Dollar (USD) and weigh on the non-yielding metal. At the time of writing, XAU/USD trades around $4,285 during American trading hours, down 1.60% on the day.

Gold impact rationale

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

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

Topics: gold news, gold price impact, rates, gold_price_action