# Gold drops below $4,300/oz as Fed votes 12-0 in favor of rate hold, but nearly half of policymakers see a rate hike in 2026  | Kitco News

> The Fed voted 12-0 to hold rates at the first meeting under Chair Kevin Warsh, and gold fell below $4,300 an ounce. The new projections showed nearly half of policymakers expect a rate hike in 2026. The Fed said inflation remains elevated relative to its 2% goal.

- Date: 2026-06-17 · published 2026-06-17T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/18715-gold-drops-below-4-300-oz-as-fed-votes-12-0-in-favor-of-rate-hold-but-nearly
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rate-hike expectations strengthen the dollar and weigh on dollar-priced commodities, which can raise feed import costs in local currencies. The price effect comes from monetary policy rather than from grain or meal supply.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-01-01 | [Fed sees only one rate cut in 2026; no hike ahead, says Powell](https://feedsoft.ai/events/21688-fed-sees-only-one-rate-cut-in-2026-no-hike-ahead-says-powell.md) | +0.3% | -1.5% |
| DXY | 2026-06-17 | [Gold retreats as Fed signals rate hike ahead, dollar strengthens \| Kitco News](https://feedsoft.ai/events/18712-gold-retreats-as-fed-signals-rate-hike-ahead-dollar-strengthens-kitco-news.md) | +1.8% | +0.9% |
| DXY | 2024-12-18 | [Gold slides below $2,600 as Fed signals two rate cuts in 2025](https://feedsoft.ai/events/26855-gold-slides-below-2-600-as-fed-signals-two-rate-cuts-in-2025.md) | +0.7% | +1.5% |
| 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 | 2021-02-26 | [EUR/USD Falls Steeply; Could Drop Below 1.2000 As ECB Policymaker Calls for PEPP Acceleration](https://feedsoft.ai/events/9590-eur-usd-falls-steeply-could-drop-below-1-2000-as-ecb-policymaker-calls-for-pepp.md) | +0.7% | +1.9% |

## Sources

- kitco.com: https://www.kitco.com/news/article/2026-06-17/gold-drops-below-4300oz-fed-votes-12-0-favor-rate-hold-nearly-half

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