Gold slides as oil, Fed rate concerns lift dollar

AI desk brief

Gold fell to a one-week low as firmer oil, a stronger dollar and hawkish Fed rate expectations pressured bullion. Spot gold dropped 0.4% to $4,271.16/oz, after hitting its lowest since Sept. 16, while December COMEX gold lost 0.3% to $4,306; silver slid 1.8% to $63.29/oz, platinum eased 0.2% to $1,746.44 and palladium rose 0.5% to $1,266.40.

The desk takeaway is that higher US rates and near-two-decade-high 10-year Treasury yields are lifting the opportunity cost of holding non-yielding metals, while the oil-driven inflation impulse is complicating the central bank outlook. Near term, the dollar and real-rate path remain the key swing factors for XAU and XAG.