Story perspectives

Gold slips as U.S. yields hit 24-year highs

By Drooid · Oct 6, 2026, 2:51 PM UTC · How we work

Summary

Story summary

Spot gold slipped 0.3% to $4,128.83 per ounce by 0400 GMT Tuesday.
U.S. 10-year and 30-year Treasury yields reached fresh 24-year highs on Monday.
The dollar index held near 102.17, keeping gold more expensive for non-dollar holders.
CME’s FedWatch Tool shows a 21% chance of a Federal Reserve rate hike in October.
World Gold Council said gold fell over 8% in September as ETFs drew 70+ tons of inflows.

History

Historical Context

In January 1980, the Federal Reserve under Paul Volcker raised rates, sending the dollar to 85 cents and pushing gold to a record $850 per ounce. After a 20-year bear market bottom at $252.90 in 1999, gold broke that low in 2008 and topped $1,429 in December 2010 amid tightening. Today’s slide near $4,128 reflects the same rate-sensitivity that drives rallies and corrections.

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Story summary

Spot gold slipped 0.3% to $4,128.83 per ounce by 0400 GMT Tuesday.
U.S. 10-year and 30-year Treasury yields reached fresh 24-year highs on Monday.
The dollar index held near 102.17, keeping gold more expensive for non-dollar holders.
CME’s FedWatch Tool shows a 21% chance of a Federal Reserve rate hike in October.
World Gold Council said gold fell over 8% in September as ETFs drew 70+ tons of inflows.

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