Gold prices were heading for their most significant weekly drop in over three years as the dollar strengthened due to expectations of less aggressive interest rate cuts by the U.S. Federal Reserve. This rise in the dollar made gold less appealing to investors holding other currencies.
Fed tightening bets weigh on gold prices
Gold prices have taken a hit, influenced by rising oil rates that have sparked inflation fears and suggested further interest rate hikes may be on
September 28, 2026