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Gold rebounded on Monday to just below $3,900 after a two-day losing streak, though it remained near its lowest level since October 2025. Optimism over Iran-Qatar talks to end the US-Israeli war on Iran weighed on the US dollar and supported gold, while expectations of further Fed rate hikes capped gains.
Gold's moves in this environment track oil-driven Fed hike expectations, and a firmer dollar or higher rates reduce the appeal of non-yielding metals. For feed buyers the link is indirect, but a stronger dollar and tighter policy can weigh on commodity prices broadly.
fxstreet.comHaresh MenghaniNov 2, 2026Not enough comparable past events yet for a historical read.
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.
