Gold Futures Drop 3% to 7-Week Low on Fed Rate-Hike Bets — SkimNews
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- Gold futures dropped 3% as traders priced in further Federal Reserve interest-rate hikes, with multiple outlets citing elevated rate-hike bets as the trigger
- Gold fell to a seven-week low while silver also declined sharply, as higher bond yields weighed on precious metals across the board
- Oil-driven inflation fears and the Strait of Hormuz impasse kept rate-hike expectations elevated, with Bloomberg and Reuters highlighting the geopolitical/inflation channel feeding into the Fed outlook
Why it matters: A 3% drop in gold futures to a seven-week low signals that traders are rapidly repricing the Fed's path toward higher rates, and the simultaneous decline in silver confirms this is a broad precious-metals selloff tied to rising bond yields — not an isolated gold event.
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