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Gold gains evaporate after Fed signals higher rates
Original: Gold price today, Thursday, October 8, 2026: Yearly gold gains evaporate after Fed says higher rates are expected
Gold prices fell sharply on Thursday, October 8, 2026, erasing the metal's gains for the year. The drop came after the US Federal Reserve signalled that interest rates are expected to rise, reducing gold's appeal as a non-yielding asset. Investors are recalculating their positions in precious metals as expectations for monetary policy shift, with analysts weighing how long the sell-off could continue.
Why now: The Fed's unexpected signal on higher rates triggered a sharp gold sell-off that wiped out year-to-date gains.
Evidence
- Gold price today, Thursday, October 8, 2026: Yearly gold gains evaporate after Fed says higher rates are expected · Yahoo Finance
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