# Gold’s slide to one-year low: margin calls amplified a fall driven by Fed hike bets

> Gold fell more than 3% on Friday to its lowest level in a year, below $3,900, and is about 30% below its record high. Commerzbank linked the sell-off to tech-stock losses that may have triggered margin calls and forced selling of safe-haven assets, alongside higher oil, firmer US inflation and rising bets on a December Fed hike after the Fed held rates with two officials voting to raise them.

- Date: 2026-11-02 · published 2026-11-02T06:13:19.762Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/74982-gold-s-slide-to-one-year-low-margin-calls-amplified-a-fall-driven-by-fed-hike
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The driver is rate expectations shaped by oil prices, which feed inflation and Fed policy and so the dollar and financing costs across commodities. Tighter policy expectations tend to pressure commodity prices, though the effect on feed markets is second-order.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-11-10 | [Gold falls to one-month low as Fed affirms rate-hiking stance](https://feedsoft.ai/events/61962-gold-falls-to-one-month-low-as-fed-affirms-rate-hiking-stance.md) | -0.4% | -0.2% |
| DXY | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | +1.4% | +1.0% |
| DXY | 2026-06-30 | [US dollar holds near 13-month high as yen's slide, Fed rate hike bets boost the greenback](https://feedsoft.ai/events/19010-us-dollar-holds-near-13-month-high-as-yen-s-slide-fed-rate-hike-bets-boost-the.md) | -0.1% | -0.3% |
| DXY | 2023-12-01 | [Gold hits record high on bets for March start to Fed rate cuts](https://feedsoft.ai/events/32473-gold-hits-record-high-on-bets-for-march-start-to-fed-rate-cuts.md) | +0.3% | -1.5% |
| DXY | 2022-10-28 | [Gold down 1% as dollar, yields rise on Fed rate-hike bets](https://feedsoft.ai/events/39036-gold-down-1-as-dollar-yields-rise-on-fed-rate-hike-bets.md) | +1.2% | -2.4% |

## Sources

- investinglive.com: https://investinglive.com/commodities/gold-s-slide-to-one-year-low-margin-calls-amplified-a-fall-driven-by-fed-hike-bets/

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