Gold Slides as Fed Signals Potential 2026 Rate Hikes

Gold fell about 2–3% after the Fed held rates at 3.5%–3.75% but signaled higher rates could come in 2026, with nine officials penciling in at least one 25bp hike and six projecting two; Treasuries fell, the dollar firmed and stocks dropped as traders priced in higher rates amid elevated inflation and energy-price pressures from the Iran conflict. Bullion traded around $4,224 per ounce, a reminder that higher rates weigh on non-yielding gold.