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Gold Falls to $4,350 as Fed Hawks Boost US Dollar

By Markets Desk · · Updated 2026-09-21 20:37 UTC
A pile of raw, unrefined gold nuggets and bars on a dark surface
Illustration: Tradingbird, based on a photo published by FXStreet

Gold has fallen to $4,350 as a stronger US Dollar, driven by hawkish Fed rhetoric and expectations of further rate hikes, offsets the usual inverse relationship with falling bond yields. Technical analysis from Mitrade indicates bearish momentum, with key support seen at $4,319 and resistance at $4,400.

  • Mitrade notes that despite lower US Treasury yields, gold remains capped near $4,350 as hawkish comments from Fed officials like Musalem and Goolsbee reinforce expectations for further tightening. The firm warns that technical indicators, including a bearish RSI, suggest continued downside pressure toward the $4,319 support level unless buyers can reclaim $4,400.

    Source: Mitrade

  • Gold prices dropped 0.6% on Monday because the US Dollar strengthened after Fed officials signaled continued rate hikes.

    Source: FXStreet
Based on reporting by FXStreet and Mitrade, compiled by the Tradingbird desk.

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