# Gold falls to one-year low and platinum to 13-month low on Fed hike bets - ZiMining

> Gold fell to a one-year low near $3,875 and platinum to a 13-month low on Friday as traders raised bets on another US rate hike in December to above 70%. Brent crude rose to its highest since April on renewed US military action against Iran, including an attack on a tanker in the Strait of Hormuz.

- Date: 2026-11-02 · published 2026-11-02T12:12:12.535Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/75415-gold-falls-to-one-year-low-and-platinum-to-13-month-low-on-fed-hike-bets
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher Brent lifts diesel and fertilizer costs for farmers and feed producers, while rate-hike bets strengthen the dollar and weigh on dollar-priced commodities. The price implication is firmer energy input costs and some pressure on commodity prices broadly.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-09-29 | [Fed Rate Hike Bets and US Bond Rout Bolster the Dollar, Hurt Equities and Gold \| Investing.com](https://feedsoft.ai/events/17391-fed-rate-hike-bets-and-us-bond-rout-bolster-the-dollar-hurt-equities-and-gold.md) | +5.1% | +3.9% |
| BRENT | 2023-10-04 | [Rand falls to lowest level against the dollar in months](https://feedsoft.ai/events/33924-rand-falls-to-lowest-level-against-the-dollar-in-months.md) | -3.8% | -6.0% |
| BRENT | 2026-09-29 | [Euro Weakens Further to Over One-Year Low](https://feedsoft.ai/events/17696-euro-weakens-further-to-over-one-year-low.md) | +5.1% | +3.9% |
| BRENT | 2026-05-19 | [Euro Near One-Month Low Amid Middle East Risks](https://feedsoft.ai/events/19475-euro-near-one-month-low-amid-middle-east-risks.md) | -11.6% | -30.3% |
| BRENT | 2026-06-19 | [Dollar index hits 13-month high on hawkish Fed, shaky Middle East outlook](https://feedsoft.ai/events/11519-dollar-index-hits-13-month-high-on-hawkish-fed-shaky-middle-east-outlook.md) | -6.4% | +3.9% |

## Sources

- zimining.co.zw: https://www.zimining.co.zw/gold-platinum-slide-rate-hike-oil-fears/

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