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Spot gold climbed more than 1% to $4,073.60 an ounce after the Federal Reserve held rates at 3.50% to 3.75%. Three committee members voted for a 25-basis-point hike, which kept the central bank's tightening bias in place.
The gold move was a relief rally after hike expectations had risen in recent weeks.
A Fed that keeps a tightening bias supports the dollar and higher yields, which limit gains in dollar-denominated commodities. The reaction shows markets were relieved that the hike was postponed.
kitco.comNeils ChristensenJul 29, 2026After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
