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Spot gold traded below $3,900 an ounce after a nearly 3% plunge briefly sent it to a 13-month low. Rising oil prices and hawkish Federal Reserve signals, including comments from Chicago Fed President Austan Goolsbee and San Francisco Fed President Mary Daly, pushed up expectations of further rate increases.
Treasury yields extended their surge.
Higher expected US interest rates strengthen the dollar and raise the cost of holding non-yielding assets, which weighs on commodity prices broadly. The firmer dollar makes US-priced commodities more expensive for overseas feed buyers.
investing.comRoushni NairNov 13, 2026After 2,356 past bullish macro events, US Dollar (Broad) 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.
