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Update: Gold Drops as Dollar Rises to 13-Month High After Fed Signals Higher Rates Could Be Coming

BY MT Newswires | ECONOMIC | 06/22/26 01:54 PM EDT

01:54 PM EDT, 06/22/2026 (MT Newswires) -- (Updates the gold price in the second paragraph)

Gold traded lower midafternoon 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 0.9% to US$4,206.80 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 to the highest since May 2025. The ICE dollar index was last seen up 0.17 points to 101.02. Treasury yields were also higher, with the U.S. two-year note last seen yielding 4.236%, up 4.9 basis points, while the 10-year Treasury note yield was up 5.7 points to 4.517%.

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

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