Story perspectives

Traders Price 89% Fed Rate Hike as Gold Falls

By Drooid · Sep 14, 2026, 2:29 PM UTC · How we work

Summary

Story summary

Spot gold fell 1.3% to $4,292.13, with futures down 1.7% to $4,332.10 per ounce.
Traders priced an 89% chance of a Federal Reserve rate hike at this week’s meeting.
UBS analyst Giovanni Staunovo linked the hike expectation to August CPI data and rising oil prices.
Oil prices rose about 3% after Saudi strikes and Iranian attacks on Gulf shipping.

History

Historical Context

In October 1973 OAPEC imposed an oil embargo on the United States after the Yom Kippur War, driving the global price of crude from $3 to $12 per barrel—a rise of about 300 %. President Nixon responded with a 55-cent gasoline tax. The shock sparked inflation and recession, a pattern echoed today as oil climbs and markets watch Fed policy.

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Story summary

Spot gold fell 1.3% to $4,292.13, with futures down 1.7% to $4,332.10 per ounce.
Traders priced an 89% chance of a Federal Reserve rate hike at this week’s meeting.
UBS analyst Giovanni Staunovo linked the hike expectation to August CPI data and rising oil prices.
Oil prices rose about 3% after Saudi strikes and Iranian attacks on Gulf shipping.

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