# Gold plunges to one-year low near $3,850 as Fed hawks take charge

> Gold fell nearly 2.8% on November 12 to around $3,874 after touching a one-year low of $3,852. Several Fed officials sounded hawkish on inflation, and the US Dollar Index rose to about 103.48, near 19-month highs, with futures pricing high odds of a December rate hike.

- Date: 2026-11-12 · published 2026-11-12T21:13:09.284Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/96538-gold-plunges-to-one-year-low-near-3-850-as-fed-hawks-take-charge
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger dollar and higher rate expectations tighten global financial conditions and raise the cost of dollar-denominated commodity imports for importing countries. Feed buyers in emerging markets may face higher local-currency costs for grains and meals.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-11-16 | [Yuan falls to 8-year low as China-critic Trump prepares to take office](https://feedsoft.ai/events/7738-yuan-falls-to-8-year-low-as-china-critic-trump-prepares-to-take-office.md) | +0.6% | -0.0% |
| 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 | 2021-11-30 | [Gold retreats as Fed's Powell strikes hawkish tone](https://feedsoft.ai/events/43957-gold-retreats-as-fed-s-powell-strikes-hawkish-tone.md) | -0.4% | -1.0% |
| DXY | 2020-03-19 | [FOREX-Euro plunges to three-year lows as dollar demand jumps](https://feedsoft.ai/events/6270-forex-euro-plunges-to-three-year-lows-as-dollar-demand-jumps.md) | +0.5% | -0.9% |
| DXY | 2019-07-31 | [The Loonie plunges following a "hawkish rate cut" by the U.S. Fed - OFX (CA)](https://feedsoft.ai/events/58339-the-loonie-plunges-following-a-hawkish-rate-cut-by-the-u-s-fed-ofx-ca.md) | +0.9% | +1.8% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/gold-plunges-to-one-year-low-near-3-850-as-fed-hawks-take-charge-202611122013

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