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Gold Drops to $4,270 After First Fed Hike in Three Years

By Markets Desk · 2026-09-17 · 1 min read
A single, polished gold bar resting on a dark, textured surface
Illustration: Tradingbird

Gold prices fell approximately 2% to near $4,270 per ounce following the Federal Reserve's decision to raise interest rates by 0.25 percentage points.

Gold prices fell approximately 2% to near $4,270 per ounce following the Federal Reserve's decision to raise interest rates by 0.25 percentage points. The precious metal dropped over the previous three trading sessions as the U.S. dollar strengthened. This marks the first rate increase in three years.

The Federal Open Market Committee voted unanimously to lift the target rate range to 3.75% to 4.0%. Officials signaled that further tightening may occur before the end of 2026. Their new projections place the rate at 4.1% by year-end.

Hawkish signal pressures metal

Market participants interpreted the decision as a hawkish signal. Higher interest rates increase the opportunity cost of holding gold. The metal does not generate interest income, making it less attractive when yields rise.

Inflation fight drives policy

The Fed stated that inflation in the United States remains elevated. Raising rates is intended to return inflation to the 2% target more quickly. This stance prioritizes price stability over short-term growth.

Precious metals market overview

Spot gold traded near $4,274 on the morning of September 17. Silver was priced at approximately $63.28 per ounce. Platinum and palladium showed slight increases during the same period. According to GN auto markets/commodities: gold prices, the data reflects a broader shift in asset allocation.

Based on reporting by Українські Національні Новини (УНН), compiled by the Tradingbird desk.

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