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Gold slipped to around $3,900 as US 10-year Treasury yields rose to 4.954% and December Fed hike odds climbed to 79%. Mixed US-Iran headlines and a stronger dollar added pressure, with JOLTS and factory orders data showing firmer US activity.
Higher real yields and a firmer dollar raise the opportunity cost of holding non-yielding assets and tighten financial conditions, which can weigh on commodity prices broadly, including feed ingredients priced in dollars.
fxstreet.comChristian Borjon ValenciaNov 3, 2026After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
