Story perspectives

Firmer U.S. Dollar Pushes Spot Gold Lower to $4,371.95

By Drooid · Sep 21, 2026, 6:09 PM UTC · How we work

Summary

Story summary

ActivTrades CEO Ricardo Evangelista said a firmer U.S. dollar pressured spot gold, slipping it to $4,371.95 per ounce on Monday.
Investors took profits after gold rallied to a one-week high of $4,399.41 per ounce on Friday.
Traders priced an 88% chance of a U.S. rate hike in December, according to the CME FedWatch Tool.
Spot silver rose 0.7% to $66.70 per ounce while platinum and palladium also gained modestly.

History

Historical Context

When President Richard Nixon closed the Bretton Woods system on August 15, 1971, the United States abandoned the gold-backed dollar, sparking a sharp rise in gold prices. By December 1971, the World Gold Council recorded spot gold at $40 per ounce, a 14% rise, while the Federal Reserve’s discount rate remained 5.5%. Today's gold slide to $4,371.95 per ounce mirrors the 1971 surge, as ActivTrades CEO Ricardo Evangelista cites a stronger dollar and an 88% Fed-hike probability. The 1971 shift taught markets that monetary policy and currency strength can drive precious-metal volatility, suggesting today's rate-sensitive gold moves may presage broader asset-price adjustments.

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Story summary

ActivTrades CEO Ricardo Evangelista said a firmer U.S. dollar pressured spot gold, slipping it to $4,371.95 per ounce on Monday.
Investors took profits after gold rallied to a one-week high of $4,399.41 per ounce on Friday.
Traders priced an 88% chance of a U.S. rate hike in December, according to the CME FedWatch Tool.
Spot silver rose 0.7% to $66.70 per ounce while platinum and palladium also gained modestly.

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