# Gold trims gain as Fed holds rates, signals hike support

> Gold pared early gains of as much as 2.2% after the Fed held rates at 3.5% to 3.75% in a 9-3 vote, with three officials dissenting in favor of a hike. Treasury yields and the dollar fell after the decision. Brent crude rose above $90 on renewed US-Iran hostilities, and swap traders put the September hike odds below 60%.

- Date: 2026-07-29 · published 2026-07-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/18264-gold-trims-gain-as-fed-holds-rates-signals-hike-support
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher oil and inflation pressure push up expectations of tighter policy, which tends to support the dollar and weigh on commodities. Gold's gains are fragile if oil keeps rising.

## Read by commodity

- DXY: bearish ▼
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-09-28 | [Rand weakens as oil prices rise and rate-hike fears support dollar](https://feedsoft.ai/events/17765-rand-weakens-as-oil-prices-rise-and-rate-hike-fears-support-dollar.md) | +6.5% | +1.3% |
| BRENT | 2024-07-31 | [Stocks rise; yields, dollar lower as Fed signals rate cut](https://feedsoft.ai/events/29141-stocks-rise-yields-dollar-lower-as-fed-signals-rate-cut.md) | -3.0% | +2.0% |
| BRENT | 2022-05-04 | [Stocks rally after Fed hikes rates, crude jumps](https://feedsoft.ai/events/41309-stocks-rally-after-fed-hikes-rates-crude-jumps.md) | -2.3% | +18.3% |
| BRENT | 2026-09-29 | [Fed Rate Hike Bets and US Bond Rout Bolster the Dollar, Hurt Equities and Gold \| Investing.com](https://feedsoft.ai/events/17391-fed-rate-hike-bets-and-us-bond-rout-bolster-the-dollar-hurt-equities-and-gold.md) | +5.1% | +3.9% |
| BRENT | 2023-08-01 | [Oil posts fifth week of gains on signals of tighter supply](https://feedsoft.ai/events/35196-oil-posts-fifth-week-of-gains-on-signals-of-tighter-supply.md) | +0.6% | -0.6% |
| DXY | 2023-12-13 | [Gold climbs over 1% after Fed signals end of rate hikes \| Reuters](https://feedsoft.ai/events/32470-gold-climbs-over-1-after-fed-signals-end-of-rate-hikes-reuters.md) | -1.0% | -0.7% |
| DXY | 2025-06-23 | [US Dollar (USD) Erases Gain as Fed's Bowman Signal July Rate Cut Support - Bloomberg](https://feedsoft.ai/events/24417-us-dollar-usd-erases-gain-as-fed-s-bowman-signal-july-rate-cut-support-bloomberg.md) | -1.1% | -0.9% |
| DXY | 2025-03-20 | [Gold Hits Record High As Fed Signals Rate Cuts Amid Economic Tensions](https://feedsoft.ai/events/25478-gold-hits-record-high-as-fed-signals-rate-cuts-amid-economic-tensions.md) | +0.3% | -2.0% |

## Sources

- moneycontrol.com: https://www.moneycontrol.com/news/business/gold-trims-gain-as-fed-holds-rates-signals-hike-support-13987656.html

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