# Gold, silver slammed as hawkish Fed repricing reignites dollar upside

> Gold and silver fell sharply after a strong September flash PMI showed US business activity at its fastest pace in over five years. Fed funds futures now imply about three and a half more 25bp hikes by mid-2027, and the DXY broke to multi-month highs.

- Date: 2026-09-23 · published 2026-09-23T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/17389-gold-silver-slammed-as-hawkish-fed-repricing-reignites-dollar-upside
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher expected US rates and a stronger dollar lift the cost of commodities priced in dollars for importing countries. This tends to weigh on commodity prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-18 | [Gold, silver sink as dollar tests yearly highs following hawkish Fed - Kitco PM Report \| Kitco News](https://feedsoft.ai/events/18710-gold-silver-sink-as-dollar-tests-yearly-highs-following-hawkish-fed-kitco-pm.md) | +1.4% | +1.0% |
| DXY | 2020-09-23 | [Gold and Silver Hit by Hawkish Fed Boost to Dollar - Markets Insider](https://feedsoft.ai/events/51033-gold-and-silver-hit-by-hawkish-fed-boost-to-dollar-markets-insider.md) | +0.8% | -1.4% |
| DXY | 2026-06-18 | [United States Dollar Index: Hawkish Fed repricing supports gains – Deutsche Bank](https://feedsoft.ai/events/18714-united-states-dollar-index-hawkish-fed-repricing-supports-gains-deutsche-bank.md) | +1.4% | +1.0% |
| DXY | 2022-11-03 | [Gold dips as hawkish U.S. Fed lifts dollar, yields](https://feedsoft.ai/events/38593-gold-dips-as-hawkish-u-s-fed-lifts-dollar-yields.md) | -1.0% | -4.2% |
| DXY | 2026-06-19 | [Euro steadies as the US Dollar eases, but hawkish Fed bets limit upside](https://feedsoft.ai/events/11518-euro-steadies-as-the-us-dollar-eases-but-hawkish-fed-bets-limit-upside.md) | +0.4% | +0.1% |

## Sources

- forex.com: https://www.forex.com/en/news-and-analysis/gold-silver-slammed-as-hawkish-fed-repricing-reignites-dollar-upside/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.