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Gold has fallen more than 30% from its January record above $5,595 an ounce and has slipped below $4,000. Renewed Iran war tensions pushed crude higher earlier, adding to inflation concerns and expectations of further Fed rate hikes after the Fed raised rates for the first time in three years.
Bank of America expects gold to stay below $4,000 over the next three months.
Expectations of continued Fed tightening and oil-driven inflation keep financing costs and the dollar firm, a backdrop that generally limits commodity price gains. Energy-driven inflation also raises production and freight costs for feed ingredients.
economictimes.indiatimes.comVeer SharmaNov 2, 2026After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
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.
