# Fed holds rates and two vote to hike: what it means for gold | GGP

> The Fed held rates at 3.75%-4% on October 28 with a 10-2 vote, and gold rose about 0.7% before falling about 4.7% by Friday to near $3,876. Futures priced the chance of a December hike near 76%. Gold is down about 29% from its January record.

- Date: 2026-10-31 · published 2026-11-01T06:09:28.998Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/4181-fed-holds-rates-and-two-vote-to-hike-what-it-means-for-gold-ggp
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher-for-longer rate expectations raise the opportunity cost of holding non-yielding assets and strengthen the dollar. These conditions weigh on dollar-denominated commodities broadly, although gold is not a feed input.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-06-16 | [US Fed indicates more rate hikes this year; what this means for Indian rupee](https://feedsoft.ai/events/70794-us-fed-indicates-more-rate-hikes-this-year-what-this-means-for-indian-rupee.md) | +0.3% | -1.7% |
| DXY | 2024-10-01 | [What a Fed rate cut could mean for the world](https://feedsoft.ai/events/28219-what-a-fed-rate-cut-could-mean-for-the-world.md) | +0.9% | +2.9% |
| DXY | 2026-07-29 | [Gold trims gain as Fed holds rates, signals hike support](https://feedsoft.ai/events/18264-gold-trims-gain-as-fed-holds-rates-signals-hike-support.md) | -0.9% | -2.0% |
| DXY | 2021-12-17 | [What will the Fed’s expected rate hikes mean for Korean market? - The Korea Herald](https://feedsoft.ai/events/43844-what-will-the-fed-s-expected-rate-hikes-mean-for-korean-market-the-korea-herald.md) | -0.2% | -0.8% |
| DXY | 2024-09-20 | [US Fed rate cuts: What does this mean for gold, equities, and emerging markets? \| Julius Baer](https://feedsoft.ai/events/28221-us-fed-rate-cuts-what-does-this-mean-for-gold-equities-and-emerging-markets.md) | -0.2% | +2.2% |

## Sources

- globalgoldprices.com: https://www.globalgoldprices.com/news/fed-holds-rates-two-hike-dissents-gold-december

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