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Spot gold fell 3.5% on Friday to as low as $3,880, its lowest in 12 months. Analysts linked the drop to a hawkish Fed pause, rising oil prices and a tech stock rout that dragged down gold alongside equities.
Expectations of higher rates and oil-driven inflation raise the cost of holding non-yielding assets and reinforce a tighter macro backdrop for commodities. The selloff itself is a market move with no direct effect on feed commodity supply.
fxstreet.comMike MaharreyNov 3, 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.
