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Gold Drops as Dollar Rises to a 13-Month High After Fed Signaled Higher Interest Rates Could Be Coming

BY MT Newswires | ECONOMIC | 06/22/26 09:38 AM EDT

09:38 AM EDT, 06/22/2026 (MT Newswires) -- Gold traded lower early Monday as the U.S. dollar climbed to its highest level in more than a year, extending gains after the Federal Reserve signaled it could raise interest rates later this year to curb inflation.

Gold for December delivery was last seen down 0.5% to US$4,225.00 per ounce.

"For now, the yellow metal remains stuck in technical limbo, trading between key support at USD 4,000-4,100 and resistance from the 200-day moving average, currently near USD 4,466," Saxo Bank noted.

The dollar edged up early to the highest since May 2025. The ICE dollar index was last seen up 0.05 points to 100.91. Treasury yields were sharply higher, with the U.S. two-year note last yielding 4.228%, up 4.1 basis points, while the 10-year Treasury yield rose 3.8 basis points to 4.498%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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